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Auto blog
NEVS' reorganization plan approved after all?
Fri, 29 Aug 2014What a difference a day makes. Thursday, we reported that current Saab parent National Electric Vehicle Sweden had its application for creditor protection denied by the Swedish court for being "vague and completely undocumented." But NEVS was back in court on Friday, and this time the application was granted. However, the story continued to get weirder as defense contractor Saab AB allegedly revoked NEVS' rights to use the Saab name.
NEVS did put out a brief press release confirming the court decision saying: "The District court of Vänersborg, Sweden, today August 29 approved the application for reorganization from National Electric Vehicle Sweden AB." The company allegedly has over 90 creditors, and according to Reuters, it owes them roughly 400 million Swedish krona ($57.56 million). The business says that it is in negotiations with two, unnamed companies to get additional funding.
Also, according to Reuters, Saab AB, best known for making fighter planes, has revoked NEVS' rights to the Saab brand name because the company's application for creditor protection gave the defense contractor that right. When NEVS bought Saab, it only acquired the automaker's physical assets, and had to negotiate for the rights to use the name.
Boeing, Saab take first flight in T-X trainer 36 months after starting development
Wed, Dec 21 2016This post is appearing on Autoblog Military, Autoblog's sub-site dedicated to the vehicles, aircraft and ships of the world's armed forces. Bringing a new fighter from drawing board to its first flight is generally a lengthy endeavor, taking years of planning and tweaking and engineering. Or, at least it normally does. Boeing and Saab just took their new joint-developed training fighter, the T-X, out for its first spin just 36 months after starting development. According to Saab's deputy program manager for the T-X, Eddy De la Motte, that's half the time it usually takes to get a new jet in the sky. "We went from [critical design review] to first flight in 12 months. We don't do that very much at the Boeing Company," Boeing's program manager for the T-X, Ted Torgerson told Defense News. "I don't want to say it has not been done, but for a manned aircraft to go through a complete production-ready design, that is as fast and as efficient as we've ever been through it." Boeing/Saab's first test flight was a simple, 55-minute matter for Boeing test pilots Steven Schmidt and Dan Draeger. The pair took the plane up to 10,000 feet and hit speeds of 231 knots (265 miles per hour) while running handling checks on the twin-tail, single-engine jet. "I've been a part of this team since the beginning, and it was really exciting to be the first to train and fly," pilot Schmidt said. "The aircraft met all expectations. It's well designed and offers superior handling characteristics. The cockpit is intuitive, spacious and adjustable, so everything is within easy reach." "It was a smooth flight and a successful test mission," Draeger, who rode shotgun in the instructor's seat said in an official release. "I had a great all-around view throughout the flight from the instructor's seat, which is critical during training." Boeing/Saab's T-X is one of four jets competing for the role as the US military's next training aircraft. Northrop Grumman is fielding a clean-sheet design that allegedly flew earlier this year, while Lockheed Martin and Raytheon are modifying existing designs with partners – the South Korean KAI T-50 for Lockheed and the Leonardo M-346 for Raytheon. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Defense NewsImage Credit: Boeing, Saab Saab Military
China's Evergrande says it will start making electric vehicles in June
Tue, Mar 19 2019BEIJING — Chinese property firm Evergrande Group will start producing its first electric vehicles in June as part of a goal to become the world's largest new energy vehicle (NEV) company within the next three to five years, according to its chairman. Hui Ka Yan made the comments at a conference in the eastern city of Tianjin over the weekend, according to a statement published on the company's website on Tuesday. "The new energy automobile industry has a huge market prospect. Evergrande has completed the entire industrial chain layout in the field of new energy vehicles," Hui said. He also said that Evergrande plans to start selling its first electric vehicle model globally "soon," which will use electric car production technology from Swedish car makers Saab and Koenigsegg, and drive systems from Netherlands' e-Traction, according to the statement. Evergrande, China's second-largest property developer by sales, has been aggressively expanding into the automotive space in search of new areas of growth as the Chinese property market slows. Its subsidiary, Evergrande Health, invested in vehicle manufacturer National Electric Vehicle Sweden AB (NEVS), which picked up the assets of Saab, and Chinese auto battery maker Shanghai CENAT New Energy Co this year. It is also the majority investor in Swedish super car brand Koenigsegg. Not all of Evergrande's investments have gone smoothly, however. Last year, Evergrande Health bought 45 percent of Chinese electric vehicle firm Faraday Future as part of a $2 billion plan but the deal eventually turned sour. The companies have since ended their legal fight. Sales of NEV vehicles have remained a bright spot in China's car market, jumping 61.7 percent in 2018 to 1.3 million vehicles even as the overall car market contracted for the first time since the 1990s. China's biggest auto industry association predicts NEV sales to hit 1.6 million this year. Auto News Green Plants/Manufacturing Koenigsegg Saab NEVS