2007 Saab 9-5 Turbo - Automatic - Fully Loaded - Midnight Blue With Grey Leather on 2040-cars

Auto blog

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.

GM recalling 8.4M cars, 8.2M related to ignition problems

General Motors today announced a truly massive recall covering some 8.4 million vehicles in North America. Most significantly, 8.2 million examples of the affected vehicles are being called back due to "unintended ignition key rotation," though GM spokesperson Alan Adler tells Autoblog that this issue is not like the infamous Chevy Cobalt ignition switch fiasco.
For the sake of perspective, translated to US population, this total recall figure would equal a car for each resident of New Hampshire, Rhode Island, Montana, Delaware, South Dakota, Alaska, North Dakota, the District of Columbia, Vermont and Wyoming. Combined. Here's how it all breaks down:
7,610,862 vehicles in North America being recalled for unintended ignition key rotation. 6,805,679 are in the United States.

Boeing, Saab take first flight in T-X trainer 36 months after starting development

This post is appearing on Autoblog Military, Autoblog's sub-site dedicated to the vehicles, aircraft and ships of the world's armed forces. Bringing a new fighter from drawing board to its first flight is generally a lengthy endeavor, taking years of planning and tweaking and engineering. Or, at least it normally does. Boeing and Saab just took their new joint-developed training fighter, the T-X, out for its first spin just 36 months after starting development. According to Saab's deputy program manager for the T-X, Eddy De la Motte, that's half the time it usually takes to get a new jet in the sky. "We went from [critical design review] to first flight in 12 months. We don't do that very much at the Boeing Company," Boeing's program manager for the T-X, Ted Torgerson told Defense News. "I don't want to say it has not been done, but for a manned aircraft to go through a complete production-ready design, that is as fast and as efficient as we've ever been through it." Boeing/Saab's first test flight was a simple, 55-minute matter for Boeing test pilots Steven Schmidt and Dan Draeger. The pair took the plane up to 10,000 feet and hit speeds of 231 knots (265 miles per hour) while running handling checks on the twin-tail, single-engine jet. "I've been a part of this team since the beginning, and it was really exciting to be the first to train and fly," pilot Schmidt said. "The aircraft met all expectations. It's well designed and offers superior handling characteristics. The cockpit is intuitive, spacious and adjustable, so everything is within easy reach." "It was a smooth flight and a successful test mission," Draeger, who rode shotgun in the instructor's seat said in an official release. "I had a great all-around view throughout the flight from the instructor's seat, which is critical during training." Boeing/Saab's T-X is one of four jets competing for the role as the US military's next training aircraft. Northrop Grumman is fielding a clean-sheet design that allegedly flew earlier this year, while Lockheed Martin and Raytheon are modifying existing designs with partners – the South Korean KAI T-50 for Lockheed and the Leonardo M-346 for Raytheon. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Defense NewsImage Credit: Boeing, Saab Saab Military