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NEVS Saab EV prototype on display, with top speed of just 75 mph

National Electric Vehicle Sweden, the Saab-owning Swedish holding company that is in turn owned by Chinese investors, has some problems (i.e., no cash). But that isn't stopping NEVS from showing off a prototype Saab 9-3 Electric Vehicle this week. But wait, you might be saying, didn't NEVS already start production of a 9-3 EV? Yes, indeed, and the vehicle displayed this week was indeed built at the Saab plant in Trollhattan in May as one of those early pilot builds. A modified Saab 9-3 Aero Sedan, the EV has had the lithium-ion battery pack jammed under the floor, so all of the cargo and passenger space of the gas-powered 9-3 remains available. "The starting point for our development of the Electric Vehicle project was to maintain all the good attributes and characteristics," said NEVS' vice president of engineering and product development, Stig Nodin in a statement. You can find the press release below. The li-ion pack comes from Beijing National Battery Technology (which is owned by the same company that owns NEVS) and can offer a range of about 120 miles, NEVS says. The prototype also has a 100-kW electric motor that offers 140 horsepower that provides a 0-60 miles per hour time of 10 seconds and a top speed of just 75 miles per hour. That's unlikely to be fast enough to outrun Saab's creditors, but NEVS says that the prototype is here "to serve as a reference for specification of coming production model(s)," so let's hope the speed number can be increased while the range at least stays the same. Today Nevs presented the Saab 9-3 Electric Vehicle as designed and produced as part of a prototype series in Trollhattan. The car is a modified Saab 9-3 Aero Sedan where the batteries are placed under the floor, keeping the full interior space as well as the luggage compartment intact. With that, the Saab 9-3 EV is just as practical as the Saab 9-3 Aero with gasoline engine. The Saab 9-3's famous driving-experience is of course preserved in the EV, helped by its low center of gravity and a 50/50 weight distribution. "We are happy to present the result of Nevs engineering into a real Saab EV product. The Saab cars' well-known performance and safety is maintained and we foresee a very good product for the market. When we developed the Saab 9-3 Aero Sedan Model Year 14, we focused on enhancing the driving experience, safety and quality.

3 former Saab execs charged with tax evasion

The Associated Press reports three former Saab executives have been arrested on charges of accounting fraud. Swedish prosecutor Olof Sahlgren has refused to identify the individuals, but says they're suspected of attempting to evade taxes by falsifying Saab accounts between 2010 and 2011 during the Spyker years. Other reports indicate the parties involved include former General Counsel to Saab Kristina Geers (seen to the left of former CEO Victor Muller, above), a 15-year-veteran of the company - her husband, Eric, was the company's communications director for 9 years as well.
Saab filed for bankruptcy in 2011, and was purchased shortly thereafter by National Electric Vehicle Sweden. If convicted, the trio could face up to four years in prison for their crimes under Swedish law.

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.