2004 Saab 9-3 Convertible/great Deal on 2040-cars

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Mahindra eying stake in Saab owner NEVS?

It's ironic that Saab's current vehicle architecture is called the Phoenix platform, because like the mythological bird, the company keeps returning from the ashes. That's right, the embattled Swedish automaker isn't completely dead yet. Again. Actually, it may be facing yet another buyout, and this time, the buyer may be from India.
Less than a month ago, the situation looked ominous for Saab. National Electric Vehicle Sweden, the carmaker's current owner, temporarily shut down 9-3 production at its Trollhättan factory not long after restarting it in the first place. According to Just Auto, it laid off about 100 consultants allegedly linked to problems making June payroll, as well. At the time, Saab claimed that the measures were temporary, and it was negotiating selling part ownership to another automaker.
Those assertions might have some truth behind them, it seems. Indian newspaper The Economic Times reports that Mahindra & Mahindra and an unnamed Asian automaker are negotiating with NEVS to purchase part of the company. It claims that the Indian automaker sees Saab as an opportunity to add a premium brand to its business.

Victor Muller to pay Sweden back taxes for Saab work

Victor Muller, Saab's CEO from 2010 to 2011, has been ordered by the Swedish court to pay the back taxes he owes the country for his work at Saab, Autoweek and Volkskrant report. When he was the automaker's CEO he received a salary of about 8 million Swedish Krona ($1.25 million), which was recorded as a reward for consultancy work for a company in the US that Muller owns. The move allowed him to evade taxes for awhile, but the court has ordered him to pay taxes on his full salary.
Muller, who is also CEO of Spyker, and two other Saab executives were accused of accounting fraud in May, which took place in 2010 and 2011. According to reports, Muller maintains that he is not subject to taxes in Sweden.

New Saab parent NEVS: we're not totally broke

The many fans of 1987's The Princess Bride will recall Billy Crystal's Miracle Max character optimistically referring to the protagonist Westley as "mostly dead." It looks like National Electric Vehicle Sweden (NEVS), the company that now owns the Saab brand, fits that description. Of course, Westley does end up surviving and getting the girl. NEVS put out a statement last week saying that, while it doesn't have the cash to pay off all of its outstanding debt (hey, who of us does?), it is "not insolvent" because its assets are greater than its debt. Its suppliers will get paid, but that NEVs "cannot say exactly when." NEVS, the partnership between a Chinese company and a Japanese investment firm that acquired the Saab name in 2012, restarted production at its Trollhattan plant in Sweden last year and had promised a vehicle line that would include a battery-electric version of the 9-3 sedan. Instead, NEVS stopped the production line that was only making about a half-dozen vehicles a day (the gas-powered, turbocharged 9-3) in May because it said shareholder Qingbo Investment Co. didn't provide the agreed-upon cash. NEVS now says it held positive talks with two manufacturers this summer, and that once funding is secured, it will rewrite its business plan with its new partners to resume production. The supplier that filed a bankruptcy petition is withdrawing it based on this new information, says NEVS. Saab made its first cars in 1947 and was eventually owned by General Motors before being sold to Spyker in 2010. Bankrupt by the end of 2011, Saab was acquired by NEVS the following year. Check out NEVS's most recent press release below. And have fun storming the castle. Information from Nevs Nevs hereby clarify that the company is not insolvent. The company does not have enough liquid cash as today to pay all outstanding debt but Nevs' assets are larger than its debt. Nevs today cannot say exactly when, but Nevs' suppliers will get paid. During the summer, the dialogues with the two major vehicle manufacturers have continued and developed in a positive direction. It is a thorough evaluation process that is still ongoing, and the discussions have not been finalized yet. After the funding is secured, and after that Nevs business plan is updated together with its new partners, Nevs will be able to make the decision on when the Trollhattan factory can resume its production.