Buy Now _ '97 Saab 900se Turbo, Conv. on 2040-cars

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Koenigsegg super cars team with Saab successor NEVS to go electric

STOCKHOLM — The Chinese-backed company born from the remnants of bankrupt Swedish automaker Saab is investing 150 million euros ($171 million) in a venture with Swedish super car brand Koenigsegg, in a move that could see them develop new electric models. National Electric Vehicle Sweden AB (NEVS), in which China's Evergrande Health recently became the majority investor, said it would take a 65 percent stake in a new joint venture to "develop a product for new and untapped segments." Koenigsegg will hold the rest, and contribute intellectual property, technology licenses and product design. The deal deepens China's exposure to Swedish automakers, with Geely owning Volvo Cars and the largest investor in truckmaker AB Volvo, and another Chinese investor having created NEVS in 2012 after buying the core assets and IP rights of Saab Automobile following its demise. NEVS, which owns production bases in Trollhattan in Sweden and Tianjin in China and plans another in Shanghai, has been trying to establish itself as a pure electric automaker, but has yet to produce a car. Evergrande Health's $930 million cash infusion into NEVS, announced this month, was seen as a second lifeline, giving it funds to develop costly electric vehicles and access to new auto technologies, where Evergrande is expanding. The Chinese firm is a unit of property developer China Evergrande Group and is a former investor in U.S. electric vehicle developer Faraday Future. Tuesday's deal will give NEVS a 20 percent stake in Koenigsegg and could potentially pave the way for it to begin delivering products to the market, with its loose partnership with Didi Chuxing, China's Uber, yet to yield anything concrete. "Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. ... We have both competencies and facilities to support Koenigsegg on their journey forward," NEVS Chairman Kai Johan Jiang said. Koenigsegg, backed by U.S. and Norwegian investors, sought to buy Saab after its 2011 collapse but the deal never materialized. While the luxury brand has built a plug-in hybrid, it has yet to develop a fully electric vehicle. Tesla's sales success in recent years has shown that a market for luxury electric cars exists, pushing traditional carmakers including Volkswagen's Audi and Porsche, and Tata Motors' Jaguar to develop their own versions.

GM denies Spyker claims in $3B Saab lawsuit

Reuters reports General Motors has dismissed claims by Spyker outlined in a $3 billion lawsuit. Spyker alleged GM deliberately bankrupted Saab by preventing a deal with Chinese investor Zhejiang Youngman Lotus. GM, meanwhile, filed a response with the U.S. District Court for the Eastern District of Michigan saying that as the former owner of Saab, GM had the legal right to approve the deal with Youngman. But Spyker's lawsuit claimed GM's refusal to approve the deal with Youngman stemmed from the fact that the American automaker didn't want to create a competitor in China.
GM has said the issue stemmed more from the fact that it would stop licensing its technology to Saab or stop building vehicles for the manufacturer in the event it was bought by Youngman. Since Saab built its own platform that didn't use any GM tech, Spyker says that argument is meritless.
The lawsuit has Spyker seeking $3 billion in compensatory damages, though that number could swell with interest, punitive damages and legal fees, as well. Victor Muller, Spyker chief executive, has said the lawsuit is being funded by an anonymous third party. That party will share in any settlement. Youngman has refused to comment on whether or not it's footing the legal bill.

Junkyard Gem: 1983 Saab 900 Turbo 4-Door Hatchback

I've been finding quite a few interesting Saabs in Colorado car graveyards lately, including a 96 and a 99 (sadly, a discarded example of a Saab 92 has eluded me — at least in the United States — so far), and now it's the turn of the factory-hot-rod Saab that gave car shoppers more horsepower per dollar than anything they could buy from Germany at the time: the 900 Turbo. I found this car a few weeks back in a yard just south of Denver. Saab sold the original version of the 900 in the United States for the 1979 through 1993 model years (after that, the 900 name went on a car based on the Opel Vectra and closely related to the Saturn L-Series), and the early 900s looked very much like their 99 ancestors. Saab was an early adopter of turbocharging, and so the 900 Turbo was available here for the entire 1979-1993 sales run. This engine, a 2-liter slant-four derived from a 1960s Triumph design (and first cousin to the engine used in the Triumph TR7), was rated at 135 horsepower in 1983. That was big power for a small car in the Late Malaise Era, and it gave the 1983 Saab 900 Turbo a power-to-weight ratio similar to what you got in the Mitsubishi Starion and Porsche 944 that year. Electronic fuel injection finally made turbocharging work well for everyday driving (though the Maserati Biturbo stuck with blow-throw Weber carburetors all the way through 1986 in the United States), and it wasn't long before TURBO became a magical word. Yes, by 1984 you had Ozone and Turbo break-dancing while Ice-T makes his film debut. A few years earlier, with the (carbureted) Turbo Trans Am's not-so-stellar reliability on display, Boogaloo Shrimp's character would have been assigned a different name. Though it's possible, based on the fact that at least one 1980s boombox was built from a Saab 900 dash, that Turbo's name was inspired by Saab. Saab should get credit for doing so much to push turbocharging into the daily-driver mainstream. You could get a three-speed Borg-Warner automatic transmission in your new 1983 Saab 900, but it added 370 bucks (about $1,075 in 2022 dollars) to the cost of the car and made it much less fun to drive. This one has the 5-speed manual; I assume the E next to fifth gear stands for "efficiency." The five-door 900 Turbo listed at $16,910 with five-speed manual, which comes to about $49,055 today. A new BMW 528e cost $23,985 that year ($69,580 now) and offered just 121 horsepower.