2006 Saab 9-3 2.0t Sedan 4-door 2.0l on 2040-cars

Auto blog

Saab tries [again] to emerge from bankruptcy

If we've learned one thing from watching The Walking Dead, it's that the only way to terminate a walker is with a swift and brutal blow to the brain. Sadly, no one has come along that's willing to do the gruesome deed to the stumbling shell that is Saab. The company's latest owner, National Electric Vehicle Sweden is trying, yet again, to crawl its way out of bankruptcy with a "composition proposal in order to exit the reorganization." That proposal, outlined in the attached press release, will see the majority of the company's many creditors receive full repayments. For 104 of the 573 creditors, all of whom have claims over 500,000 Swedish Krona (roughly $60,000), their claims will be reduced by 50 percent. If creditors approve the proposal, it'd provide "the conditions for completion of ongoing negotiations with two major OEMs," which the press release claims could come on as either a joint-venture partner in Trollhattan or a majority owner in the struggling company. We won't be holding our breath. Scroll down for the full press release from NEVS. Thursday, February 19, 2015 A composition to get Nevs out of reorganisation National Electric Vehicle Sweden AB, Nevs, provides unsecured creditors a composition proposal in order to exit the reorganisation. It creates the conditions for completion of ongoing negotiations with two major OEMs and the implementation of a new business plan together with partners and owners. Nevs' owners and management has noted the difficulty of completing this type of complex negotiations during a reorganisation and the risk premium it implies. The current negotiations, together with two major OEMs, are mainly focused on two tracks that are complementing each other. One is to form a technical joint venture company in Trollhattan and the other is to introduce a new majority owner in Nevs, with the plan of making Saab cars a global premium product. - The negotiations are progressing but we also see the complication of reaching an agreement when we are in a state of reorganisation. Our main owner has single-handedly financed the reorganisation and intends to get us out of it. In order for this to be possible financially, we need to reach a composition arrangement with the creditors, says Nevs CEO, Mattias Bergman. The composition proposal includes a composition of 50 percent for unsecured creditors on claims over 500'000 SEK.

NEVS mulling electric Saab 9-3 convertible, looking for engine partners, too

Do you believe in reincarnation? Like how we hope that, maybe, all of our hard work as auto writers will result in an eventual return as a swarm of beautiful butterflies. If you are a Saab fan, the equivalent could be this bit of news: The 9-3 Convertible may rise again, as an electric vehicle.
Word comes from the Dutch version of Autoweek that Chinese entity National Electric Vehicle Sweden (NEVS) has indicated that it will bring an electric version of the 9-3 Convertible to market in the next 18 months. The EV droptop would first debut in the Chinese market, but could expand, as could the lineup to other 9-3 variants, such as the sedan and SportCombi. A NEVS spokesperson has stated, "NEVS basically no doors holds." We're not sure if that's the spokesperson or the translation from the Dutch report, but you get the gist.
NEVS also indicated that conventionally powered versions of the 9-3 could be produced as well. The internal combustion engines could be the originally intended General Motors engines. Regardless of powerplant, we would be very eager to see Saab return, potentially as an EV to boot!

Man in a convertible drives in the rain with a Christmas tree

A man in a convertible had his holiday cheer extinguished thanks to England's infamous weather. Nicholas Dodd saw this sad, soaked through couple while driving down the A38 near Plymouth, Devon, according to the Daily Mirror. Dodd told the publication he couldn't believe his eyes when he saw a Saab, top down, in a pouring rain storm. That's not all. The top was down because of the large Christmas tree wedged in the back seat. "We couldn't believe what we were seeing," Dodd said. "It was crazy - especially with the weather - but I guess he just wanted to get his Christmas tree home anyway he could." The Saab driver's female passenger also looks less than pleased by the sudden squall. "His missus was beside him but they didn't seem to find it as funny as we did," Dodd said. "He was just keeping his head down in a vain attempt to avoid the rain but was getting a real soaking." Dodd posted the video to Facebook, where commenters also had a good laugh at the soaking wet Saab owners. Weird Car News Saab Videos christmas rain