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NEVS completes Saab purchase, earns right to brand name but not griffin badge

According to the Associated Press, a Hong Kong-based concern is close to building new Saab models. After some delays, National Electric Vehicle Sweden (NEVS) has completed the purchase of bankrupt Swedish automaker Saab.
NEVS says it plans to debut an electric vehicle in about 18 months. When the car comes to market, it will wear the Saab name, but not the marque's well-known griffin logo. Reuters reports that the company will produce EVs based on the Saab 9-3 platform, with intentions to sell these vehicles primarily in the Chinese market. Due to the continued use of the distinctive griffin head logo by commercial truckmaker Scania and the Saab aerospace group, NEVS was only granted access to the Saab name, not its emblem.

Son Surprises Mom With Dream Car

We can't get enough of these dream car-reveals. Here's the latest one: A son wanted to treat his mom to the car she's had her eye on for years, but it wasn't a restored Porsche or a fancy 1957 Chevy Bel Air. This mom wanted something special – a 1973 Saab 99 EMS painted disco-fever copper. Ever since he was a kid, Corey Wadden's mom has wanted the Saab. Wadden writes on his YouTube video that she first hopped in the driver's seat of one of these odd retro rides while working as a cleaning lady. One of her clients would toss her the keys and let her move the car. She fell in love. After a year of searching and saving, this nominee for best son in the world brought his mom down to the parking lot, where her dream ride awaited. First, he handed her an envelope with a picture of the car and the keys, a dead giveaway. She quickly put two and two together, and lost it before making it to the parking lot. She is so happy and full of gratitude that she actually drops to her knees when he opens the door. Wadden writes on his page that his mom lost her job two-and-a-half years ago and hasn't had a reliable car in years. This car aims not just to get her mobile again, but lift her spirits. It's also part of the Toronto entrepreneur's promise to become a millionaire by the time he is 25 to help his mother retire. Related Gallery The Best Cars For Empty Nesters Weird Car News Saab

NEVS' reorganization plan approved after all?

What 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.