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Saab's latest Chinese owners facing their own credit woes

Poor Saab, it can't seem to get a break. General Motors couldn't seem to make a go of it, neither could Spyker, and now it seems that its latest owner is encountering some problems of its own.
That owner, of course, is National Electric Vehicle Sweden, a Swedish holding company owned by Chinese investors. NEVS recently restarted production at the Saab plant in Trollhättan, Sweden, and had some ambitious plans for the brand's revival, but it appears to have run out of cash.
This according to a report in The Wall Street Journal, which discovered that NEVS is having trouble paying its suppliers. One such supplier, called Labo Test, has reportedly been owed some $22,000 by NEVS since February, and without payment, petitioned the Swedish government to place NEVS into bankruptcy proceedings. If that seems a little extreme to you over twenty-two grand, it would seem the parties agree, as the petition has reportedly since been withdrawn.

New owners of Saab don't get to use the name

Saab won't be revived as a Chinese-backed electric car brand. Aerospace and defense company Saab AB has declined to let the new owners of the dormant automaker's old designs and factory use the name on new cars, Automotive News reports. It's a blow to fans of the Swedish brand, who hoped the name would be revived on new vehicles coming out of the same factory as models like the 99 Turbo. National Electric Vehicle Sweden, known as NEVS, bought major assets of the Saab operation in 2012 following former parent Spyker's decision to liquidate the company in December 2011. This not only included the Trollhattan assembly plant in Sweden, but the rights to the Saab 9-3 and the platform of its successor. NEVS built some new 9-3s using leftover parts and powered by the old 2.0-liter turbo engines, with the intent to raise money to produce new electric vehicles for Europe and China – and to use the Saab name. When General Motors bought all of Saab Automobile in 2000, it used the name under license from the Saab AB. That permission was then passed to Spyker in 2010 and later NEVS, albeit without the griffin logo. But when NEVS sought creditor protection in 2014, Saab AB revoked the naming rights. Following reorganization, NEVS in August announced a deal with Dongfeng Motor Corp. to develop a new lineup of electric vehicles, which was revealed in December to include five new models by 2018, some assembled in China by 2020 – the first of which being an EV version of the old 9-3. However, Saab AB told Automotive News that discussions have ended regarding the use of the Saab name on these vehicles. NEVS owner Kai Johan Jiang told a Swedish radio station the company will find a new name to market the cars under when they go on sale. It's similar to what happened to SAIC when it purchased vehicle technology from bankrupt British carmaker MG Rover. While it had the tooling to essentially make the Rover 75, the brand name at the time belonged to BMW and barred SAIC from using it, so the Roewe brand was created in China. It's unclear why talks broke down and also where NEVS will get a new name (there aren't nicer ways to spell Saab, and it was originally an acronym, anyway). Will Saab AB attach its name to another line of cars? Probably not. What it does mean, however, is that Saab fans have to cling tighter to their old cars now. Perhaps that's for the best. Related Video:

Last 900 Saabs heading to auction

If you've been wanting to get your hands on one last new Saab but missed out on the great Saab sell-off when Saab Cars North America declared bankruptcy, well, your ship has now come in.
Actually, it came in last year - but hundreds of new Saabs got waylaid at ports in California and New Jersey because of the bankruptcy, according to SaabWorld.net. Those cars are now slated for auction, some 900 of them, which will be available for dealers, exporters and rental car companies to bid on beginning next week. Eventually, 300 of these cars should make their way to Saab dealers, where they're expected to be sold off at 30- to 50-percent discounts. The other 600 will either be exported or used as rentals, according to the report, so "the price of Saabs will not be severely depressed."
Besides the new cars, some 67 company cars, including some interesting stuff like a 1960 Saab Quantum IV and a 1970 Sonnett III, will also be auctioned off, according to the report. Of the new cars, just over half are 9-5 models, some 400 are 9-3 sedans, another 60 are 9-3 wagons, and about a dozen are convertibles. According to the report, 28 are actually 9-4X crossovers, which is more than 10 percent of Saab's total 2011 sales for that model.