1999 Saab 9-3 Viggen on 2040-cars

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NEVS, the company that took over Saab, gets new majority owner

Chinese real estate conglomerate Evergrande Group, a key investor behind troubled electric vehicle startup Faraday Future, has acquired a 51 percent stake in NEVS. That's the Chinese-backed Swedish electric vehicle company that purchased the assets of Saab out of bankruptcy in 2012. The investment by subsidiary Evergrande Health Industry Group was valued at the equivalent of $930 million and is expected to help NEVS develop new EVs. Evergrande said it paid the first installment of $430 million on Jan. 15, with the remainder due by the end of the month. The remaining 49 percent stake is controlled by a holding company controlled by NEVS founder Kai Johan Jiang. "It means that NEVS will get a financial (sic) strong main owner who is very interested in developing our vision about green mobility transport solutions for the future," NEVS CEO Stefan Tilk said in a statement. NEVS, short for National Electric Vehicle Sweden, owns production facilities in Trollhattan, Sweden, and Tianjin, China, with another under construction in Shanghai. In late 2017 the company launched what apparently was limited production of the 9-3 EV, an electric vehicle based — you guessed it — on the old Saab 9-3 platform. The company now says it will be built in Tianjin starting later this year, with components coming from Trollhattan. It boasts a 186-mile range, in-car WiFi and a cabin air filter for the notoriously smoggy Chinese air. It also showed a battery-electric 9-3X concept at CES Asia in 2017, which is likely to be its next model pegged for production. The South China Morning Post, citing local media reports, says two of NEVS' models meet the standards for mass production in China. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Definitely the best promotional video we've ever seen. Evergrande Health first came to Faraday Future's rescue back in 2017 with a promised $2 billion investment, but the two sides later went into arbitration in Hong Kong over a dispute about money following the first infusion of $800 million, leading the automaker to cut staff and wages last year, casting the future of FF into doubt. At the end of 2018, Faraday announced it had entered into a new restructuring agreement with an Evergrande Health subsidiary that sees them end litigation and jettison the previous investment agreement, taking Evergrande's investment in the company to 32 percent.

What car brand should come back?

Congratulations, wishful thinker! You've been granted one wish by the automotive genie or wizard or leprechaun or whoever has been gifted with that magical ability. You get to pick one expired, retired or fired automotive brand and resurrect it from its heavenly peace! But which one? That's a tough decision and not one to be made lightly. As we know from car history, the landscape is littered with failed brands that just didn't have what it took to cut it in the dog-eat-dog world of vehicle design, engineering and marketing. So many to choose from! Because I am not a car historian, I'll leave it to a real expert to present a complete list of history's automotive misses from which you can choose, if you're a stickler about that sort of thing. And since I'm most familiar with post-World War II cars and brands, that's what I'm going to stick to (although Maxwell, Cord and some others could make strong arguments). So, with the parameters established, let's get started, shall we? Hudson: I admit, I really don't know a lot about Hudson, except that stock car drivers apparently did pretty well with them back in the day, and Paul Newman played one in the first Cars movie. But really, isn't that enough to warrant consideration? Frankly, I think the Paul Newman connection is reason enough. What other actor who drove race cars was cooler? James Dean? Steve McQueen? James Garner? Paul Walker? But, I digress. That's a story for another day. Plymouth: As the scion of a Dodge family (my grandfather had a Dodge truck, and my mom had not one, but two Dodge Darts – the rear-wheel-drive ones with slant sixes in them, not the other one they don't make any more), I tend to think of Plymouth as the "poor man's Dodge." But then you have to consider the many Hemi-powered muscle cars sold under the Plymouth brand, such as the Road Runner, the GTX, the Barracuda, and so on. Was there a more affordable muscle car than Plymouth? When you place it in the context of "affordable muscle," Plymouth makes a pretty strong argument for reanimation. Oldsmobile: When I was a teenager, all the cool kids had Oldsmobile Cutlasses, the downsized ones that came out in 1978. At one point, the Olds Cutlass was the hottest selling car in the land, if you can believe that. Then everybody started buying Honda Civics and Accords and Toyota Corollas and Camrys, and you know the rest. But going back farther, there's the 442 – perhaps Olds' finest hour when it came to muscle cars.

Are orphan cars better deals?

Most folks don't know a Saturn Aura from an Oldsmobile Aurora. Those of you who are immersed in the labyrinth of automobilia know that both cars were testaments to the mediocrity that was pre-bankruptcy General Motors, and that both brands are now long gone. But everybody else? Not so much. By the same token, there are some excellent cars and trucks that don't raise an eyebrow simply because they were sold under brands that are no longer being marketed. Orphan brands no longer get any marketing love, and because of that they can be alarmingly cheap. Case in point, take a look at how a 2010 Saturn Outlook compares with its siblings, the GMC Acadia and Buick Enclave. According to the Manheim Market Report, the Saturn will sell at a wholesale auto auction for around $3,500 less than the comparably equipped Buick or GMC. Part of the reason for this price gap is that most large independent dealerships, such as Carmax, make it a point to avoid buying cars with orphaned badges. Right now if you go to Carmax's site, you'll find that there are more models from Toyota's Scion sub-brand than Mercury, Saab, Pontiac, Hummer, and Saturn combined. This despite the fact that these brands collectively sold in the millions over the last ten years while Scion has rarely been able to realize a six-figure annual sales figure for most of its history. That is the brutal truth of today's car market. When the chips are down, used-car shoppers are nearly as conservative as their new-car-buying counterparts. Unfamiliarity breeds contempt. Contempt leads to fear. Fear leads to anger, and pretty soon you wind up with an older, beat-up Mazda MX-5 in your driveway instead of looking up a newer Pontiac Solstice or Saturn Sky. There are tons of other reasons why orphan cars have trouble selling in today's market. Worries about the cost of repair and the availability of parts hang over the industry's lost toys like a cloud of dust over Pigpen. Yet any common diagnostic repair database, such as Alldata, will have a complete framework for your car's repair and maintenance, and everyone from junkyards to auto parts stores to eBay and Amazon stock tens of thousands of parts. This makes some orphan cars mindblowingly awesome deals if you're willing to shop in the bargain bins of the used-car market. Consider a Suzuki Kizashi with a manual transmission. No, really.