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.
Saab AB doesn’t want its strong name being dragged thru the mud anymore – can’t blame them.
Cue Mike and the Mechanics (all I need is a miracle)…
Nevs has lost all bargaining positions.
Well one of two things,,, Mahindra is speaking with Saab AB and Nevs, its like two coexisting deals… Name Brand etc… and factory etc,
In the end Nevs is deaddd Actually they have nothing really… This deal will happen real quick or nothing is happening and it implodes quickly.
JESUS! I’ll be extremely surprised if NEVS manage to weather this off. I see so many difficult issues for them to deal with now that chances of success is very very slim. Sad – very sad. Since May I have asked myself this question a hundred time. How on earth can it be that KJJ and his team entered this game when his pockets isn’t deeper and make the entire existence of NEVS/SAAB dependant one single partner? I just do not get it!
NEVS might have done a good at one level getting suppliers lined up for production and re-engineering of the 9-3 as EV but on the top floor they are a sad story and risk management is obviously not at the core of their skills. I am flappergasted.
Sounds like SAAB AB is protecting the brand name. The google trans seems a bit garbled to me, but it sounds essentially like that SAAB AB has given up on NEVS and may be forcing them to give a majority stake to a new owner (Mahindra) which is acceptable to SAAB AB>
“”Nevs disposes currently Saab brand for sales of cars through a license agreement. Agreement shall be due to the current notice renegotiated as part of the reconstruction to continue utilized in the reconstructed Nevs with new principal owner, which the Board and management in Nevs deem entirely possible . ”
the original Swedish is “”Nevs disponerar för närvarande varumärket Saab för försäljning av personbilar genom ett licensavtal. Avtalet ska på grund av löpande uppsägningstid omförhandlas som ett led i rekonstruktionen för att kunna fortsätta nyttjas i det rekonstruerade Nevs med nya huvudägare vilket styrelsen och ledningen i Nevs bedömer som fullt möjligt.”
What happens to those Swedes who placed orders for the ’14 9-3?
All these smaller issues need to be settled. Saab AB should not be worrying about the effect on the brand name. Right now in the UK, there is no current media attention hugely drawn to what is happening in Sweden, so something such as withdrawing rights to use the Saab name does not help the NEVS situation. With all the doldrums that Saab has survived, it is to hope this can be resolved in the future for the Saab name.