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by till72

Food for thought

August 29, 2014 in News

Those last few days have been (again) very challenging for a Saab fan. It almost feels like we have been there before – no production, wages postponed, appeal for reconstruction first denied and then granted, even spiced with the brand name issue. From reactions in comments and elsewhere on the net I can see that many fans feel like being in a deja vu right now. But even if I can understand that in some way I tend to disagree. Let me put my thoughts into a few lines. Not so much as a vast editorial, more as food for thought before the weekend.

From all that we have learned from various sources a solution to the financial problems combined with a change in ownership is really that near. Obviously the Vänersborg court also saw that. We should also not forget that the vast majority of suppliers still stay calm. NEVS obviously gained some trust here by giving them some insight in the process. This must not have been easy, especially because of the bad experience some of the suppliers had before. So in terms of a solution being near I would give NEVS the benefit of doubt here.

Another issue that popped up today are the rights to use the name Saab for the cars built in Trollhättan. Saab AB obviously decided to cancel the agreement with NEVS. They did not give any insight in the reasons they had for this but one can imagine a few: it could be a try to avoid being associated with the troubles NEVS is in or even a try to take some influence in the things that are going on. We also do not know if this is a final decision or if the agreement can be revived once NEVS is back in calm waters. In the end it does not really matter. The decision is there so I asked myself what this would mean. And even if I know about the rich history of Saab Automobile and I am hooked on the iconic Saab brand I don’t think that not having the name rights nessesarily means the end of NEVS. Honestly, if I can still drive those fabulous cars that I love I would rather deal with a new name than with a name right owner who threatens to withdraw the rights in any turbulence.

Some may say that the name is one of the key values in Saab/NEVS. But is this really the case? When it comes to cars the name Saab has taken quite a few hard hits through all the trouble, bankrupcy and absence on the market. We were all pretty clear that it needs quite some marketing to get Saab back to proper sales when new models come out. I even dare to wonder if if would take so much more effort to establish a new name than polishing up the Saab name. Don’t get me wrong, for romantic reasons I would prefer to drive cars named Saab for the rest of my life but if the car is still made by the same company, with the same philosophy I would still buy it. And there are quite a few names that could even give us fanatics a cozy feeling. Griffin for example.

Enjoy your weekend, enjoy your Saab.

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by till72

Court Grants Reconstruction for NEVS

August 29, 2014 in News

A few minutes ago the Vänersborg court decided that NEVS fulfills the requirements for reconstruction. So NEVS gets the time they apperantly need to finish their negotiations.

The PDF with the official statement from the court can be found here.

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by till72

NEVS, Saab AB and the brand name

August 29, 2014 in NEVS, News

According to P4 Väst Saab AB reacted to NEVS’ application for reconstruction by cancelling the agreement to use the Saab name on the cars made in Trollhättan. Saab AB’s spokesman Sebastian Carlsson did not comment on any details of the decision. Also NEVS did not publically react on the announcement yet.

While the news of those last two days were not what we like to hear I’d like to encourage you not to panic right away. A main point for Saab AB is to ensure that they are not associated with another bancrupcy process like the last. In the current situation there might be a chance for that worst case but it’s not nessesarily the case. Such an agreement can be revived at any time if there is that new investor that gives Saab AB enough confidence.

And the case that Saab AB and most of the suppliers with insight in the negotiations taking place between NEVS and their future partners have been rather patient with the open invoices shows that there is at least enogh confidence to give it some time. The application for reconstruction was mainly a move to get a bit more time for finalizing the ongoing negotiations under the protection of such a process. We will see how quickly NEVS’ appeal of the court decision will come now, but I think we won’t have to wait too long.

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by Tim

SU EXCLUSIVE: NEVS will appeal the court decision!

August 28, 2014 in News

Mattias Bergman confirms to SU that NEVS will appeal the courts decision to deny NEVS reconstruction!

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by Tim

Court say NO to NEVS reconstruction

August 28, 2014 in News

The court in Vänersborg declined NEVS the protection of company reconstruction. The reason the court states is that NEVS financial solutions are vague or undocumented. Missing is for example exact information on funding requirements over time and if when and what amounts will be injected.

The court also feels that it is clear that NEVS has not secured future liquidity for its duties during a reconstruction. NEVS has not turned in information supporting realism in the duties expected of them,

COMMENTS FROM SU:

If you remember back in 2011, this is basically a repeat of what happened almost 3 years ago. SAAB Automobile AB’s first application for reconstruction was also rejected, this was in turn turned over to a court of higher level and approved. I think we can expect similar development from NEVS. The new application to the court of appeals will most likely be filled up with a lot more information on the pending deal.

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by Tim

NEVS Application for company reconstruction

August 28, 2014 in News

I have read the application and below you can read a translated version of it. It’s pretty clear that NEVS aims to have a deal done within 5 weeks and therefore asks the court to accept a reconstruction and not appoint the committee for it for at least another 5 weeks.

Applicant

National Electric Vehicle Sweden AB

Application

National Electric Vehicle Sweden AB, below referenced as NEVS or Company, is in present time not able to pay for outstanding debt is applying for company reconstruction.

Background, Economy and reason for payment difficulties

NEVS was founded as a storage company and registered on April 3rd 2012. On May 2nd 2012 the company was purchased by National Modern Energy Holdings Limited here after mentioned as “NMEH” in purpose of acquiring the assets of the three bankrupt companies Saab Automobile AB, Saab Automobile Tools AB and Saab Automobile Powertrain AB. On June 13th 2012 a deal with the three bankrupt companies was struck in which NEVS acquired most of the assets in the three companies as to machines, tools and non material assets regarding the Saab 9-3 as well as the rights to the new architecture known as the Phoenix. NEVS also acquired all shares in Automobile Property AB which owned the real-estate of 1 700 000 m2 and 500 000 m2 of constructions where NEVS has its main business today. NEVS entered the facilities on August 31st 2012.

As part of the sale NEVS entered into an agreement with SAAB AB in which NEVS was given exclusive rights to produce and sell cars with the brand name SAAB. The rights to use the name is governed by a licensing agreement between SAAB AB and NEVS. A total amount of 1 700 MSEK was used to acquire the total amount of assets. The purchase was financed through a loan from NMEH, which was later converted ownership shares.

NMEH is registered on the British Virgin Islands. The company is in turn owned by China Dragon Base Holdings Ltd which is registered in Hong Kong. Mentioned company is owned by Kai Johan Jiang which also sits as the chairman of NEVS. NMEH also owns all shares of State Holding Ltd hereon after known as SPGL. SPGL is registered in China and is the mother company for a lineup of companies who maintains businesses in China with the focus of Green Technology as well as battery production.

NEVS original business plan was to keep the joy of driving which Saab represents and only produce electric vehicles. The vision of the company was to form the future sustainable way of traveling in a car with minimum negative affect on the environment. In its first step the conventional drivetrain in the Saab 9-3 was to be replaced by a high-tech electric drivetrain developed in Japan. Through its sister company SPGL which owns a battery factory a high grade of synergy was to be achieved. New requirements set fourth by the Chinese government was estimated to mean a high demand would take place for electric cars in China. China was judged to be the main market for electric cars in the world. The business plan also called for a continued development of the phoenix platform with the purpose to replace the Saab 9-3 with a brand new lineup of cars in the year 2017. Read the rest of this entry →

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by Tim

Press-release: NEVS applies for reorganization

August 28, 2014 in News

To create more time for negotiations Nevs applies for reorganization

The Board of Directors of National Electric Vehicle Sweden AB has today, August 28, 2014, decided to apply for a reorganization to create more time for the ongoing negotiations. The application has been submitted to the district court in Vänersborg, Sweden.

“The tripartite negotiations we have with two global vehicle manufacturers are still progressing, but are complex and have taken more time than we predicted. We need additional time to complete the negotiations and reach an agreement. Therefore, we apply for a reorganization. We intend to fully pay our debts to our suppliers”, said Nevs’ President Mattias Bergman.

Nevs has about 400 suppliers of direct materials and 500 suppliers of indirect materials. The vast majority of these have chosen to await the outcome of the ongoing negotiations. Some creditors have filed applications for an order to pay at the Swedish Enforcement Authority.

The upcoming activities from the Enforcement Authority may involve mandatory sale of assets that are supposed to be included in Nevs’ agreement with above mentioned vehicle manufacturers. Loss of such assets could obstruct finalizing a contract with them. To get more time to complete the negotiations, Nevs filed for a reorganization today.

Nevs proposed Mr. Lars Eric Gustafsson, Attorney at Hamilton law firm in Stockholm, as administrator during the reorganization period.

Mikael Östlund

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by Tim

Breaking news: NEVS postpones wages

August 21, 2014 in News

According to P4 West, NEVS will have to postpone payment of the wages from what would normally be the 25th of august to the 5th of september.

Mikael Östlund said that the reason for the delay is a delay in money transfers but he is unable to give details as to the reason for the transfer delay. All employees have been notified.

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by Tim

First Photos: NEVS EV-1 *updated with press-release

August 20, 2014 in News

Today NEVS showed its electric 9-3 EV-1 for the first time, Jukka Rokka, was kind enough to send us some photos of the car. If you look closely you’ll also see the new Infotainment system mounted into the dash. Clearly a touch-screen system which I intend to find out more about! Enjoy! =)

COPYRIGHT©SAABSUNITED.COM

PRESS RELEASE FROM NEVS

Today Nevs presented the Saab 9-3 Electric Vehicle as designed and produced as part of a prototype series in Trollhättan.

The car is a modified Saab 9-3 Aero Sedan where the batteries are placed under the floor, keeping the full interior space as well as the luggage compartment intact. With that, the Saab 9-3 EV is just as practical as the Saab 9-3 Aero with gasoline engine.

The Saab 9-3’s famous driving-experience is of course preserved in the EV, helped by its low center of gravity and a 50/50 weight distribution.

“We are happy to present the result of Nevs engineering into a real Saab EV product. The Saab cars’ well-known performance and safety is maintained and we foresee a very good product for the market. When we developed the Saab 9-3 Aero Sedan Model Year 14, we focused on enhancing the driving experience, safety and quality. And the starting point for our development of the Electric Vehicle project was to maintain all the good attributes and characteristics”, said Stig Nodin, Vice President Engineering and Product Development.

The car shown in Trollhättan today is one from the first prototype series of cars and it was produced in the Trollhättan plant in May.

The car is equipped with lithium-ion batteries from Beijing National Battery Technology, a company within the Chinese group of green tech companies owned by Kai Johan Jiang’s company National Modern Energy Holdings Ltd.

In this phase of the development the performance of the prototype series are limited to:

The range for this prototype series of cars is approximately 200 km.

  • Acceleration 0-100 km/h, 0-60 mph 10 sec.
  • Maximum speed of 120 km/h.
  • Engine power 140 hp, 100 kW.

The prototype series have multiple reasons:

  • To enhance the understanding of EV’s in the complete company.
  • To serve as a reference for specification of coming production model(s).
  • To be used as a test bench for technical development.
  • To verify the manufacturing setup.
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by Red J

NEVS will show its EV-1 tomorrow in Trollhättan

August 19, 2014 in News

NEVS is one of the Mainsponsors of the Alliansloppet, one of the biggest roller skis race in Scandinavia.
There will be race events from tomorrow till saturday.

According to ttela.se and Sverigesradio P4 tomorrow NEVS will present the first electric SAAB car in the Hansenplatsen in Trollhättan. It seems like some of them do exist, maybe they were build before the production stop.

Don’t expect too much, as the car will look like the current 9-3, the changes are under the skin, where they have changed the underpinnings to put the battery without loosing cargo space.

Lets all try to make this a very special day for one true SAAB enthusiast…….

August 14, 2014 in News

It is with great sadness that we here in the UK have heard that one of our dearest and most ardent SAAB enthusiasts has fallen terminally ill. Many of you will know of Mark, better known by most as Parish, from meeting him at numerous events both here in the UK and abroad. The prognosis of his illness shows that Mark may only be with us for a few more months at best.

Parish

It is for that reason I write this article, with the permission of Marks’ wife, to call for as much support as possible from our community at what will almost certainly be the last SAAB event Mark will attend. I hear Mark is very much looking forward to this day where hopefully he will get to see many old faces and friends.

The event which is here in the UK promises to be a fantastic but somewhat poignant day taking into account the circumstances. Sadly Mark has had to sell his beloved Saab which in itself was a very emotional experience for him.

It is our intention to make this event a very special one for both Mark and his family and ask that all SAAB owners who can attend to please come along to this FREE event. The date is the 30th August at Castle Coombe race circuit ( Chippenham, Wiltshire SN14 7EY) ,where, as part of the event, there will also be a special parade lap of the circuit for all SAAB cars that wish to partake. I am certain that Mark will be up there right at the front riding with somebody!! So please, if you can make it, bring your SAAB or any other make of car and join us for this very special day and show how our community is still as strong as ever!

I thank you in advance for your support.

Please add your name at the link below or email me at mplsab@hotmail.com

Event details http://castlecombetrackday.bristolpegasus.com

Please add your name here:
http://gwsforum.proboards.com/thread/1894/saturday-30th-august-2014-interesting