NEVS Gains Creditor Protection, Loses Saab Name

Cameron Aubernon
by Cameron Aubernon
nevs gains creditor protection loses saab name

First, National Electric Vehicle Sweden was going to be taken to district court and forced to file bankruptcy. Then, it was spared. Then, it saw its application for creditor protection denied due to being “vague.”

Now? The application has moved forward, but at the price of the Saab name.

Autoblog reports NEVS — who owes over 90 creditors kr400 million ($57.56 million USD) — gained protection from the district court in Vänersborg August 29 while the Chinese-owned company continues negotiates with two unknown companies to obtain more funding.

However, the move by the court allowed SAAB AB — whose Viggens birthed many a 99 Turbo and 900S way back when — to pull the naming rights from NEVS. The latter only bought the beleaguered automaker’s physical assets, and had to seek permission from SAAB to use the brand name. Thus, it may now be finally safe to say, “Rest in peace.”

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  • FormerFF FormerFF on Sep 02, 2014

    Somebody please send Idina Menzel in to sing. "Let It Go". SAAB the automaker is no more. Fae it, there is no room in the marketplace for a small, independent maker of quirky near luxury cars. The only way a small maker can exist is to have a big markup, as was Porsche before Wendeking Wiedelung decided to use its assets to play hedge fund games. Any buyers of a potential SAAB wouldn't pay the price required to keep an independent SAAB solvent.

  • Xtoyota Xtoyota on Sep 02, 2014

    What's a SAAB ????? Does anyone really want one ????? SAAB's gone through the mud so many times who in their right mind would buy one. Might as well rename it BAAS :=)

  • Chicagoland Chicagoland on Sep 03, 2014

    "Deep pocketed" Who? Why expect a White Knight to 'save' SAAB? Why didn't all the 'fans' buy the company? lol So many expect 'others' to put up $.

  • Chicagoland Chicagoland on Sep 03, 2014

    SAAB hasn't been independent since forever. 1988?

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