Press Release: The District court approves Nevs’ application for reorganization

The District court of Vänersborg, Sweden, today August 29 approved the application for reorganization from National Electric Vehicle Sweden AB.

The District court has appointed Mr. Lars Eric Gustafsson, Attorney at Hamilton law firm in Stockholm, as administrator during the reorganization period.

Angelo V.
Member
2 years 1 month ago

Is this the best news we’ve heard in years? I vote yes! It might not sound like much, but I think it is.

Don
Member
2 years 1 month ago

I thought the old wooden roller coaster I went on this summer was good, this ride is much better!

900 classic cab
Guest
2 years 1 month ago

Whats that date, 19 September 2014. The deadline?

Red J
Member
2 years 1 month ago

Is the deadline for appeals.

900 classic cab
Guest
2 years 1 month ago

thanks!

OliverH
Member
2 years 1 month ago

This morning i thought that this wouldn’t end in good manner. Lucky to see one step forward.

ingvar
Member
2 years 1 month ago

It`s not that easy to be a fan of the brand SAAB! New hope thou!

Troels, Denmark
Member
2 years 1 month ago

You are so right… 😉

hughw
Member
2 years 1 month ago

Is the appeal application to the court a public document that we can see on the internet?

Red J
Member
2 years 1 month ago

You can find the public documents here.

Christofer
Member
2 years 1 month ago

I just read on automotorsport.se that SAAB AB has revoked the right to use the SAAB brand name, so NEVS will no longer be allowed to call their cars SAAB anymore.

davidgmills
Member
2 years 1 month ago

Depending upon the agreements between Saab AB and NEVS, this may or may not be possible without court approval. The right to use the Saab name is a major asset and a bankruptcy judge would not easily let this asset be taken away.

hughw
Member
2 years 1 month ago
This is what I posted on Swadeology about brand name: My sense (hopefully) is that this is just a legal maneuver on SAAB AB’s part to protect the name and make sure that they have a say in what happens during reconstruction and any “sale” of the company. Extending that argument, it may be that they’ve finally had it with these jokers that have drawn Saab though the mud with their amateurish attempt of being an automobile manufacturer, that they are trying to influence the “sale” negotiations to make sure that Mahindra will call the shots after any reorganization along… Read more »
Angelo V.
Member
2 years 1 month ago
I agree Hugh—-and truth be told, there will be a learning curve for Mahindra too. They are not BMW—we know that. But they are worlds bigger than Vic Muller’s enterprise or NEVS. Bigger, more experience, more money. The slot could be perfect—-not as big as GM (who was never focused on making Saab a success because they had so many other divisions worldwide, particularly in the U.S.). But bigger and more capable than Vic or NEVS. Learning curve? Of course there will be one. Bumps in the road for a lot of reasons. But this might give Saab some much… Read more »
scmit02
Member
2 years 1 month ago

At this point in the game does the name SAAB really mean much? It has been dragged through the mud not only in the automotive press, but through mainstream media over the past several years. If you are trying to re-launch the brand, why not start for scratch?

Since it appears any future version of the company will be based on the Phoenix, why not brand the the company as such?!?! If you build a quality product that consumers want and market it (this is key!!!) you can survive the change.

Tim Sinclair
Member
2 years 1 month ago

‘Phoenix’ brings to mind the failed effort to keep Rover Cars going in the UK by the Phoenix Consortium which bought Rover from BMW for £10 in 2000. They never made a profit and went bankrupt in 2005 after trying to form deals with Chinese car makers. Incidentally, Phoenix never owned the Rover brand. Tata owns the Rover brand currently.

davidgmills
Member
2 years 1 month ago

Can anyone answer a basic question? Is Mahindra still interested?

Angelo V.
Member
2 years 1 month ago

Without having an inside contact at Mahindra, I can’t answer that question definitively. But reading the tealeaves, I think that yes, they are a part of this equation. I think what we’re seeing today is being driven by the fact that someone is still interested and by process of elimination, who else might it be? I think Mahindra is interested.

davidgmills
Member
2 years 1 month ago

I could have come up with an answer that good. No offense Angelo. Both you and I are in the US and we can both give it our best guess from half way around the world.

How about someone a bit closer to NEVS or Mahindra answering the question?

Angelo V.
Member
2 years 1 month ago

NEVS doesn’t do a whole lot of talking—-not sure if even some of the higher ranking execs at NEVS have a clue as to what the CEO is really thinking. You’re right—-trying to analyze this from North America is a fools game.

Carlo A
Member
2 years 1 month ago

wow …. this is good news …. now fingers crossed for the negotiations!

No 9
Member
2 years 1 month ago

Someone posted earlier on the expediency of the Swedish courts. Very impressive!

spacy
Guest
2 years 1 month ago

I’m getting burns on the chest from all these defibrillator restarts…….. Still Cardiac Arrest averted again…..!!

davidgmills
Member
2 years 1 month ago

Most of the rest of Saabs United gave DNR (Do Not Rususcitate) instructions a long time ago. You are hard core.

Emmanuel
Member
2 years 1 month ago

SAAB vehicles deserve to be further developed, they deserve to be in production, they deserve to be on the roads again.

SAAB 9-3 Turbo X
https://www.youtube.com/watch?v=u2mReYpGdYk (language: Dutch)

Troels, Denmark
Member
2 years 1 month ago

+

SaabKen
Member
2 years 1 month ago

If SAAB AB prevents NEVS from using the Saab brand name, but Mahindra takes over (as majority shareholder, and reduce NEVS’ % ownership), then Mahindra can negotiate directly with SAAB AB as far rights to use the Saab name, no ?

Troels, Denmark
Member
2 years 1 month ago

I think that whatever the shares between Mahindra and NEVS possibly will be, they can invite Saab AB to negotiations about the name… ?

RS
Member
2 years 1 month ago

All they need to do is to agree on what kind of new vehicles are worthy of the SAAB name. Which can infact be quite difficult.
Here’s an idea: Unless a model is developed and also built in Sweden it can’t have the badge until 9 year since launch. This way other plants around the world could assemble these cars for local markets and carry on doing so as long as there is a demand.

Troels, Denmark
Member
2 years 1 month ago

First off all, I think, Saab AB will be interested in the strength of a new business-plan from the new company/joint venture … ?

RS
Member
2 years 1 month ago

Absolutely. They need to show and commit to investing some serious cash and the plan must be air tight this time around.

Doug R.
Guest
2 years 1 month ago
I think some are getting ahead of this,,, Nevs owns the Phoenix,, they may be making moves that has nothing to do with said brand,, Selling tech sharing it etc. Which by the way devalues it. as unique ( who knows what Vehicles may have it). They need money.. Saab AB can’t stop this. The plant, they can sell..lease etc. Maybe this the only leverage they have against Mahindra’s demands… One thing is for certain in my mind If Mahindra doesn’t control the future and isn’t majority stock holder this will die fast as it gets done. I am surprised… Read more »
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