04 Saab 9-3 Convertible Arc Only 65k No Reserve 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.

Junkyard Gem: 1971 Saab 96

Americans could buy the very first mass-produced Saab car, the 92, all the way back in 1950. Few did, because a tiny and odd-looking Swedish car with a smoky two-stroke engine buzzing out 25 horsepower didn't seem suitable for highway use, especially when a new Plymouth business coupe sold for $1,371 (about $15,180 today). Then came the 93, notable to Americans mostly for being sold by novelist Kurt Vonnegut's Saab dealership in Massachusetts. The first Saab to win over respectable numbers of American car shoppers was the 96, introduced here for the 1961 model year. North American 96 sales continued through 1973, and I've managed to find one of the later 96s in a junkyard located near Pikes Peak in Colorado. North American sales of the much less oddball 99 began in the 1969 model year, and that car evolved directly into the original 900 that sold very well through the early 1990s. Still, some Americans living in icy regions stayed loyal to the 96, so Saab kept selling 96s here until federal emissions and safety regulations made such sales unprofitable. Meanwhile, Scandinavians could buy new 96s all the way through 1980. My grandfather, a self-taught engineer who set foot outside the city limits of St. Paul, Minn., only to race Corvettes at Elkhart Lake (in summer) and all manner of rust-prone imports on frozen lakes (in winter), had this Saab 96 when I was a kid. The somewhat uneven bodywork near street level is the result of house-paint-over-Bondo corrosion repairs, and I recall going on some terrifying high-speed rides around town with Grandpa, circa 1975, watching the pavement flash by through the holes in the floor as we headed to the VFW for the meat raffle. Hey, the St. Paul VFW had Grain Belt on tap for cheap, a consolation for those who failed to win any meat. After that, a man could take his Saab to an establishment selling authentic St. Paul booya. As I recall, this Saab finally broke in half at an ice race in the late 1970s and got replaced by a slightly less rusty Rabbit. The serious Saab 96 nuts— including my grandfather— preferred the two-stroke three-cylinder engine, due to its chainsaw racket and allegedly superior performance on ice. By 1969, however, a Ford-produced V4 became the only powerplant available in a new 96 on our shores (the V4 had been an option for a couple of years prior to that). Someone grabbed the 65-horsepower V4 before I reached this car.

1999 Saab 9-3 Viggen is a Swede worth remembering on MotorWeek

Today, Saab survives in name only after a protracted series of bankruptcies and attempted comebacks with new owners. At the turn of the millennium, however, the brand was still able to make some great cars, though. MotorWeek is showing off one of its very best in this vintage review for the 1999 9-3 Viggen. The jet-inspired Viggen was the pinnacle of everything Saab's engineers could do at the time. Starting with the standard 9-3, the suspension was hunkered down to improve handling and lower bodywork was added for better aerodynamics. Now that the exterior looked the part, the 2.3-liter turbocharged four-cylinder was tweaked to make 225 horsepower and 252 pound-feet of torque. While that output may not sound hugely impressive by modern standards, those were strong numbers in the day, and the following model year made even more power. After some time behind the wheel of the VIggen, MotorWeek came away quite impressed with this Swede. While the Viggen might not have offered the full capability of high-performance, European contemporaries like the BMW M3, Saab really showed its strengths with this model.