NEVS’ Reorganisation Prolonged

Good news come from Vänersborg, after yesterday some creditors expressed their doubts about the plan to write down their demands towards NEVS. Obviously they still see a point in NEVS’ plans and this morning the District Court decided to prolong the reorganisation. Here is the press release from NEVS:

The reorganization of Nevs is prolonged

The District Court of Vänersborg, today December 11, decided that the Reorganization of Nevs shall continue for an additional time period of three months, until March 2, 2015.

“I am glad that the District Court has decided to prolong the Reorganization. We need the time the prolongation allows to concretize and finalize the ongoing negotiations” said Nevs’ President Mattias Bergman.

Let’s hope there will be a final and viable solution on the table in March.

Erik
Member
1 year 9 months ago

Where there’s life there’s hope.

sonett71
Member
1 year 9 months ago

Fantastic news. Thanx !!

Flixia
Member
1 year 9 months ago

Longing to seeing new model, new Saab car, showing to the world what is a beautiful contemporary car! And drive it of course!

sonett71
Member
1 year 9 months ago

This is great news for Christmas. Can’t understand why it’s not more comments from Saabfans here? Keep on going Saab!

hughw
Member
1 year 9 months ago

Same old news…..nothings new until we hear the results of the Mahindra board meeting.

Joe
Guest
1 year 9 months ago

We’re all waiting for the merciful dose of Pentobarbital.

Angelo V.
Member
1 year 9 months ago
Sonett: I’m also surprised that this post hasn’t had a lot more activity, a lot more comments. Speaking for myself—-I wanted to think about it a lot before commenting—-trying to let it settle in. After a couple days of introspection, my thought is that it’s good news. The 3 month time frame is longer than it might have been if the news was bad. I think the court might see some real potential in what’s being discussed—and they want to give the parties involved sufficient time to iron things out—-to give this every chance of succeeding before they close the… Read more »
sonett71
Member
1 year 9 months ago

+

Thank you for a very good comment. I think this is the right way to think about it. I see forward!

Joe
Guest
1 year 9 months ago

Angelo; respectfully, as you know nameplate does not a SAAB make! Nor does putting the ignition switch between the seats categorize an automobile as SAAB..would they really be “in business” as you say?
Guess I would rather see SAAB depart with some dignity in her, and not walk the Earth like Frankenstein’s monster.

Angelo V.
Member
1 year 9 months ago

Well, the early efforts might not be “proper” Saabs as some would say—-but if they’re alive, they can improve. If they’re dead, they’re dead. I’m not ruling out one more shot for the 9-3 either!

SAABfansince14
Member
1 year 9 months ago

I need to see a new product with a Saab badge.

Joe
Guest
1 year 9 months ago

That you might see……
however you won’t see a SAAB again. There’s a difference.

saaburban
Member
1 year 9 months ago
The board at Mahindra that has Saabs fait in their hands: Executive Director & President – Automotive & Farm Equipment Sectors Pawan has a BSc. in Mechanical Engineering from IIT, Kanpur, a PhDfrom Cornell University, USA and completed the Harvard Business School Advanced Management Program. He joined Mahindra in 1993 as General Manager, R&D. Before that, Pawan spent 14 years with General Motors, USA and is credited with pioneering research in engine design and development. President — Information Technology Sector & CTO, Mahindra Group Ulhas holds a Bachelor’s of Technology degree in Mechanical Engineering from IIT, Madras and an MBA… Read more »
Chris Carrier
Member
1 year 9 months ago

I wonder if others are like me – not sure what this really means.

David Lawrence
Member
1 year 9 months ago
Like everyone here, I would love to believe that Mahindra and co could just wave their hands and produce the Saab of everyone’s dreams in 18 months. Tata (Jaguar) and Geely (Volvo) had much easier tasks. They acauited brands that were up and running, and did not have the damage that has been done to the Saab brand. Jaguar was rather scuffed up due to quality issues, but, like Volvo they remained in production. Jaguar and Volvo weren’t subjected to the underinvestment and poor marketing under GM or to the soap opera ownership story. None of this did the brand… Read more »
Angelo V.
Member
1 year 9 months ago
David: Mahindra was very interested in entering the U.S. with their cars and trucks a few years ago. The market might be “saturated” but that doesn’t mean there isn’t a lot of money to be made here, with the right product and the right price. Having a familiar brand name is important for Mahindra—-which might be one reason why they are focused on Saab. A time line of 8 years is a non starter though. They have products already—-that can be re-engineered, redesigned and rebranded in well under 5 years. They also would have access to all variants of the… Read more »
Chris Carrier
Member
1 year 9 months ago

Good points, but not sure why you single out the 9-3 (ok), the 9-7 (already stopped in 2009) and don’t mention the 9-5 and 9-4, both plenty relevant for 2011 even if they will not return.

David Lawrence
Member
1 year 9 months ago
I hope they don’t think that badge engineering will get them back into Western markets. It’s too soon after the Saaburu (9-2) and Saab Trailblazer (9-7), Those were, IMHO, the very antithesis of what was Saab. They were an unfortunate departure from what had been a nice, clean brand identity. The Saab brand identity was muddled, cheapened and degraded. Seeing a Trailblazer running around with a Saab badge stuck on it smacked of desperation. Those models are what happens when accountants are allowed to run companies that make things and to make decisions about things they know nothing about. Mahindra,… Read more »
Angelo V.
Member
1 year 9 months ago
David: You might think the Trailblazer 9-7 smacked of desperation and you might be right. Why the desperation? Because that other formula wasn’t getting Saab anywhere. That formula had them on the brink of extinction. And in today’s automotive world, platform sharing and badge engineering are simple realities. It’s just the way it is. Volkswagen and Porsche share platforms. So what? Further, as Avelik has said to me on occasion, please back up your statements with some details. Okay, so you want performance and sophistication that no one else has, at a reasonable price: How? How can that possibly be… Read more »
Avelik
Member
1 year 9 months ago
One should not forget that badge engineering and platform sharing are two different concepts. Badge engineering is when you sell more or less the same car just with a different name. The 9-7X and 9-2x were examples of badge engineering. It is badge engineering when the same car is sold as Buick Regal in USA and China and as Opel Insignia in Europe. This is what badge engineering means. Platform sharing is different. It is used by everyone because it makes car making possible (otherwise it would be too expansive for the manufacturers). The 9-5 and the Insignia/Regal shared platforms,… Read more »
Angelo V.
Member
1 year 9 months ago

And that was a good clarification between platform sharing and badge engineering. You are correct that for Saab, it should be platform sharing. Chrysler did a lot with the platform of the K-Cars. Compact cars, convertibles, larger cars, minivans…you name it. Maybe the Phoenix can be a multi purpose tool for Saab too.

mnztr
Member
1 year 9 months ago
I am amazed that people are convinced that Mahindra is just wanting badge engineered cars with the SAAB brand on them. Firstly I think SAAB will seek assurances this is not the case before allowing the use of their name. Secondly, they know what the market is like in terms of near luxury cars. There is LOTS of amazing product out there. A badge engineered car will be laughed out of the market. Mahindra will probably restart the 9-3, and I hope create a new product priced in below the Audi A3/CLA price range. Who knows what powertrain they will… Read more »
Angelo V.
Member
1 year 9 months ago
I would love to see them restart the 9-3 in all forms—wagon, convertible and sedan, while they develop new Saabs. In the absence of restarting the 9-3, which some on these pages have said will never happen—-too expensive to build, too outdated, never happen—-if they are right, an updated and rebranded car already in production—-that they have access to—might be the only other way to bring a car to market in less than six years. We’ve also heard up to eight years for this to happen. I am amazed that people are convinced that Mahindra is buying Saab with the… Read more »
hughw
Member
1 year 9 months ago
Eight years is a very long time. Yes, they are very far behind, but there is a relatively modern factory, a relatively modern unfinished platform, and an aged model that could do with a major faceleft. But they are starting with that relatively modern factory, platform, model, some engineering staff, etc….Can it really take that long? Out of curiosity, does anyone have a sense how long it took Elon Musk from the point where they started design and put their first cars on the road? From what I can see on Wikapedia, they incorporated in 2003 and sold out their… Read more »
Avelik
Member
1 year 9 months ago
I don’t know if the 8 years assumption of Tim’s is based on something substantial he’s heard or this was more of a random assumption but I think it is more than possible to have a Phoenix based car sooner than that. Qoros had a product on the market 6 years after their establishment and they are a company established from scratch. In 6 years they gathered management and engineering staff, established design and development centers in China and Germany, developed a platform, reengineered an engine (their engine is based on a Chery engine but there were some changes made),… Read more »
Dagen Runt
Member
1 year 9 months ago
I’m having a hard time seeing the 9-3 re-entering any market, neither in ICE nor EV guise. Especially if the supplier network are eventually asked to write down NEVS’ debt load. Secondly, compact class has moved on. Saab 9-3 is a freak between two classes. Its overall measures are still the same as Merc C-class, BMW 3, Audi A4, but the wheelbase is around six to ten inches shorter. You can’t fit four adults in the car comfortably, even if it’s a big car on the outside. The car also has excess weight compared to modern competition. The car needs… Read more »
David Lawrence
Member
1 year 9 months ago
That was my point. Badge engineering insults any brand, and insults premium brands more. Platform sharing is different, and makes sense for many reasons. The platform is a simple engineering decision. There is an engineering problem to solve, and you use a solution that solves it in the most cost effective way. Whether you build or buy doesn’t matter if it meets the engineering requirements. People don’t buy cars for the platform. It’s what the design teams do with the platform that matters: drive train, suspension and steeringcomponents, body design, seats, interior appointments. Those are what create the identity of… Read more »
3cyl
Member
1 year 9 months ago
Reports were that the real problem with the new 900 was that it was rushed into production and that the later 9-3 version represented what the new 900 should have been if it had been done right. Nonetheless you are probably correct that it was a critical setback. As for the earlier Trollblazer comments, in AERO form it offered a lot off performance for the money. However, as you infer the whole package was a bit much for the traditional SAAB market and other buyers preferred to spend more for a brand with more status. I suppose all of this… Read more »
David Lawrence
Member
1 year 9 months ago
Agree, the “new” 900 is what did all the damage. That was a disaster. It killed the 900 prematurely, it killed the 9000 and it starved the 9-5 development. I believe it would have been a different story if they had just stuck with the original 900 for another 4 years. The 900 was already old, the development costs were well amortized, and the car was and is still well loved. Likewise, the new 9-3 is a sweet car and a worthy successor to the original 900 I completely agree with Angelo there. But after the damage done by the… Read more »
Angelo V.
Member
1 year 9 months ago
One thing I will say is that the lack of a hatchback for the “new” 9-3 left many Saab buyers disappointed. And actually, a historic review supports the contention that Saab was often vulnerable to the competition calling them “outdated.” You suggest that the old 900 should have hung around for a few more years and I’m in full agreement with you. But how old was it already? The competition could always pounce on something. The competition pounced on turbos being unreliable. In fact, as recently as the mid 2000s (even later) the competition pounced on the fact that Saab… Read more »
sonett71
Member
1 year 9 months ago

+ 1

saaburban
Member
1 year 9 months ago
Quote from http://www.ft.com/fastft/248901/mahindra-nears-deal-buy-swedens-saab Mahindra is now set to take a majority stake in NEVS, in the process acquiring the Saab brand, the court documents suggest. A spokesman for Mahindra declined to comment. Any deal would mark the culmination of a lengthy courtship by the Harvard-educated Indian tycoon, who first tried to buy the embattled Swedish company two years ago, as part of ambitious plans to expand into western markets. Mr Mahindra has launched a series of attempts to acquire upscale global brands, including an abortive bid for British luxury sports car maker Aston Martin in 2012, and a successful $466m… Read more »
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