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by till72

NEVS apply for reconstruction (again) – updated (again)

August 29, 2014 in NEVS

Just as I published the last post saying we won’t have to wait for it too long PV Väst announces that NEVS are at Vänersborg court with a revised Version of their application.

Update 1:
NEVS states that they have secured a loan of 20 million crowns to get through the first 3-4 weeks of the reconstruction. They also stress that the reason for the reconstruction is not to reduce the liabilities to the creditors and that NEVS intens to pay it all in full.

Update 2:
NEVS expects to have an agreement on a development cooperation for the Phoenix platform in place that will generate obe 1 billion crowns of cash for NEVS. That will be enough to pay off the debt of 400 million crowns and fund the company for another year. My educated guess is that this Partner will be Dongfeng.

The deal with a possible new owner has been negotiated for six months now and according to NEVS the board of that prospective owner has decided to fill this deal with life if some last requirements are met. As I see it, this will be Mahindra.

The decision by the court is expected for this afternoon.

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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

9-3 EV1: First impressions

August 28, 2014 in Editorial, EVs, NEVS

I’m sure many of you have seen the excellent pictures of NEVS new prototype of the electric car, EV-1.
Last Friday I went to see the car live and to get a closer look at the car in Trollhättan.
I will not repeat the facts from the release, if you want to take a closer look at the presentation from NEVS, check it out here. This will be some personal reflections and observations, without testing the car.9-3_ev1_1

The first thing I noticed when I saw the EV was that except from the yellow line on the bumpers with text that say this is a electric vehicle (“elbil”), and the fact the car is missing a exhaust-system it looked pretty like the other 2014 9-3 Aero’s from Nevs. The first things that I found out look different on this particular prototype (NEVS have some more EV-prototypes) is the wheels (17″ ALU59 with 225/50 tyres), the blue Ice-block headlamps and regular halogen foglights (2014 9-3 use as we know LED-lamps). All in all, without the yellow tape, this could be a face-lifted regular everyday-use car – in other words a perfect car for testing.

One more thing I noticed pretty soon was the ride height, without any proof or measuring, for me it can look like the same ride height as the 9-3x. For me it sounds reasonable, because the batteries of the car is mounted under the car where the petrol-tank and exhaust-system is mounted on a “normal” 9-3 – and this is giving the car an immediate benefit; it is just as practical as the 9-3 sedan we know. Another benefit having the batteries under the car is the weight-issue, doing it this way is giving a low center of gravity since the batteries is pretty heavy. One more thing regarding the ride-height, destroy a battery isn’t a thing you want to do, most because high voltage, and second because the price of the battery. For a EV the total cost of the batteries about 40% of what the car costs. But if the accident is a fact does this prototype have approximately 190 batteries in total, and they is grouped in 11 separate modules, so you can change only one module if necessary.

ev1_ren_gladje

Pure Joy – Under development in Trollhättan

When we talk about the batteries, the guys from NEVS told me the batteries is planed to last the entire life of the car. You can charge the battery approximately 5000 times, so if you charge your EV every day it will be about 13.5 years. One of the things NEVS do to increase the lifetime of the batteries is to not take out max power from them, and they are also have plans for cooling down the batteries.
The charging of th batteries must be done from a standard 16A plug, the prototypes is not support faster charging yet, but that is of course something NEVS will work with. The battery-pack is 37kWh in total, and it will take about 10h to charge.

So if we go to the inside of the car is it as I said earlier pretty like the regular 2014 9-3 Aero, even the sound isolation is at this prototype is exactly like the the 1024 9-3 Aero. The first thing you will noticeis that there is no gear-shifter. That is replaced with four buttons (R,N,P and D), and the function is like a car with automatic transmission – the big difference is that you push the button instead of moving the gear shifter. The instruments is also different, there we find the tachometer you will find a “range-meter”, wich tell you how many kilometres you can drive before the battery is empty. Where we usually find the fuel-gauge we have a gauge with the same function, but with “fuel-gauge” design. We find find the speedometer in its usual place, but it’s only scaled to 160kph. Now the EV prototypes is limited to max 120kph, so at this stage this isn’t a big issue. You also find a Ecometer where we find the turbo-meter, this will help the driver to drive economic so you can take out longest possible range, wich for the prototypes is about 200km.
The observe reader will recognise the instruments, the hardware are taken from SAABs e-Power concept, but NEVS have developed new software. If this is something NEVS will keep, or if they will develop something new is a open question. I think this looks OK, but remember this is a prototype and the focus right now is to test technical solutions – not to make fancy instruments ;)

IMG_0643

In the interior we also find another great feature we in SU crew have waited for; the new Infotainment!
This is a thing that isn’t exclusive for the EV, as soon it’s ready we will also find it in the 9-3 Aero. Sadly the Infotainment wasn’t ready, so I can’t say anything about functions, but the Infotainment is as we had written before based on a Android device, and that opens for NEVS to make their own user interface and maybe doing their own special apps for service-points, charging-points and so on. But I can say it looked great, with this new touch-screen the dashboard looked more clean then ever, it’s no need to say I liked this very much ;)

So what will be the next step for the EV prototypes? From what I see I think NEVS will be working on slimming the 9-3, every unnecessary kilo slimmed away is extra range. A question is also how whey are planing to heat up the couple during the winter. If the fan is going to use power from the battery-pack we will have a lower range during the winter, and personally I think this is a important question for many here in Scandinavia. We will have the same range that we are used to have summertime, and we want a warm and comfortable car =)

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by Tim

SU Guys staring swedish BMW blog

August 26, 2014 in Off-Topic

I just wanted to let you guys know that me and Jörgen from the SU Crew have launched a swedish BMW blog which we’re keeping as a nice little side project to SU. As many of you probably have understood the two of us are on our way to BMW as our daily driver but regardless what we drive in while going to work, the heart still remains firmly attached to Trollhättan and Saab.

This blog will not cause us to leave SU in anyway or decrease our presence here, its more of a fun thing for us to do while we wait for new cars to come out from Saab which we’re looking forward to very much. We’ve already borrowed several new cars that we’ve taken out on the street and its a lot of fun to try out new cars and new technology and get to share the experience =).

So for you guys who are interested, please have a look at www.bmwb.se and follow us on Facebook: http://www.facebook.com/bmwbloggen

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by RobinM

SOTW, much loved TTiD

August 21, 2014 in Sotw

Hi. Having bought an 11 plate 93 aero a few months ago, I’ve finally got round
to sending you these images for Sotw. As a young Saab fan myself, along with
the need for a new family car for my parents after a terrible Mercedes B-
class, a saw an opportunity to persuade them into buying a Saab. As you can
see, I was more than successful and now we have this beautiful white aero,
with only 14k miles from new. As a car enthusiast Saabs really appealed to me
and I couldn’t be happier with it, from its sheer quality to the immense power
from the 180 TTID engine. When it comes to style, the Saab struggles to be
beaten and I even have plans to use it for my prom next year! It may be our
first Saab, but we are hooked, and I can’t understand why anyone would buy
anything else!

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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.