2003 Saab 9-3 Arc (108k Miles) Being Sold To Benefit Shoe4africa on 2040-cars

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Mahindra buying majority stake in NEVS, Saab saved again?

National Electric Vehicle Sweden (NEVS), owner of Saab, might not be dead yet, because the company is reportedly close to having a new owner with deeper pockets in near future. The declaration comes from the business's latest request to prolong its reorganization and includes the claim that NEVS has a signed letter of intent from an unnamed Asian automaker to take majority ownership of the beleaguered brand. While NEVS doesn't specifically name this potential, future owner in its filing, Automotive News Europe cites a SaabsUnited story proclaiming that the suitor is none other than Indian automaker Mahindra and Mahindra, a development that would confirm months of rumors. The Swedish automaker is reportedly just waiting for the majority investment to be finalized before making an official announcement, and the whole purchase could be complete by February. NEVS also claims that it's still negotiating with a separate, unnamed Asian automaker on a joint venture to co-develop new vehicles. Assuming the deal goes through, the new owner could regain the rights to the Saab brand, too. According to ANE, negotiations are underway with the Saab AB aerospace business to be able to use the trademark again. NEVS lost that right when it filed for reorganization. Mahindra has shown interest in owning Saab for quite some time. It was reportedly among the final three bidders for the brand in 2012, and the Indian automaker was allegedly eyeing a stake in NEVS as far back as June. Scroll down to read the brief press release from NEVS about the extended reorganization, and the full document can be viewed in PDF format, here. Nevs applies for prolonged reorganization Monday, December 01, 2014 National Electric Vehicle Sweden, Nevs, has today submitted an application to the District Court in Vanersborg, requesting that the company reorganisation shall continue for an additional time period of three months. The administrator Lars Eric Gustafsson expresses the rationale for why Nevs should be granted an extended reorganization in this enclosed statement.

Boeing, Saab introduce entry for T-X trainer program

This post is appearing on Autoblog Military, Autoblog's sub-site dedicated to the vehicles, aircraft, and ships of the world's armed forces. Boeing and Saab revealed their entry for the US military's T-X trainer replacement program. The new jet, simply called T-X, is like the lovechild of a F/A-18 Hornet and an F-16 Falcon, and as Boeing tells it, will provide "performance, affordability, and maintainability advantages" over the competition. "Our T-X is real, ready and the right choice for training pilots for generations to come," Leanne Caret, Boeing Defense, Space, and Security's President and CEO said in an official statement. And Caret isn't not kidding about the Boeing T-X being both real and ready – Boeing is so confident that it built two examples before the official unveiling on Tuesday. The first jet, which Defense News reports will fly by the end of the year, debuted to media with the kind of pomp usually reserved for automotive debuts. Boeing/Saab will use the second jet – also featured on Tuesday – for structural proof testing. The needs of a training aircraft are quite different than those of a traditional fighter. The T-X features stadium-style seating, so the instructor riding in back has nearly as good a view as the student in front. Student evaluations should be easy, too, as the open software transmits data effortlessly between ground training systems and the jet itself. Functionally, Boeing claims the twin-tail layout provides more agility than a single-tail design – remember, the military's newest jets, the F-22 Raptor and F-35 Lightning II both use twin-tail layouts – while the Air Force can mount two weapon hard points on the jet's wings. According to Defense News, four manufacturers – Boeing/Saab, Northrop Grumman, Lockheed Martin/KAI, and Raytheon/Leonardo/CAE – are vying for the contract to build 350 new trainers to replace the Air Force's fleet of aging T-38 Talons. Featured Gallery Boeing/Saab T-X Entry News Source: Boeing, Defense NewsImage Credit: Boeing Saab Military

GM denies Spyker claims in $3B Saab lawsuit

Reuters reports General Motors has dismissed claims by Spyker outlined in a $3 billion lawsuit. Spyker alleged GM deliberately bankrupted Saab by preventing a deal with Chinese investor Zhejiang Youngman Lotus. GM, meanwhile, filed a response with the U.S. District Court for the Eastern District of Michigan saying that as the former owner of Saab, GM had the legal right to approve the deal with Youngman. But Spyker's lawsuit claimed GM's refusal to approve the deal with Youngman stemmed from the fact that the American automaker didn't want to create a competitor in China.
GM has said the issue stemmed more from the fact that it would stop licensing its technology to Saab or stop building vehicles for the manufacturer in the event it was bought by Youngman. Since Saab built its own platform that didn't use any GM tech, Spyker says that argument is meritless.
The lawsuit has Spyker seeking $3 billion in compensatory damages, though that number could swell with interest, punitive damages and legal fees, as well. Victor Muller, Spyker chief executive, has said the lawsuit is being funded by an anonymous third party. That party will share in any settlement. Youngman has refused to comment on whether or not it's footing the legal bill.