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Last 900 Saabs heading to auction

If you've been wanting to get your hands on one last new Saab but missed out on the great Saab sell-off when Saab Cars North America declared bankruptcy, well, your ship has now come in.
Actually, it came in last year - but hundreds of new Saabs got waylaid at ports in California and New Jersey because of the bankruptcy, according to SaabWorld.net. Those cars are now slated for auction, some 900 of them, which will be available for dealers, exporters and rental car companies to bid on beginning next week. Eventually, 300 of these cars should make their way to Saab dealers, where they're expected to be sold off at 30- to 50-percent discounts. The other 600 will either be exported or used as rentals, according to the report, so "the price of Saabs will not be severely depressed."
Besides the new cars, some 67 company cars, including some interesting stuff like a 1960 Saab Quantum IV and a 1970 Sonnett III, will also be auctioned off, according to the report. Of the new cars, just over half are 9-5 models, some 400 are 9-3 sedans, another 60 are 9-3 wagons, and about a dozen are convertibles. According to the report, 28 are actually 9-4X crossovers, which is more than 10 percent of Saab's total 2011 sales for that model.

Koenigsegg super cars team with Saab successor NEVS to go electric

STOCKHOLM — The Chinese-backed company born from the remnants of bankrupt Swedish automaker Saab is investing 150 million euros ($171 million) in a venture with Swedish super car brand Koenigsegg, in a move that could see them develop new electric models. National Electric Vehicle Sweden AB (NEVS), in which China's Evergrande Health recently became the majority investor, said it would take a 65 percent stake in a new joint venture to "develop a product for new and untapped segments." Koenigsegg will hold the rest, and contribute intellectual property, technology licenses and product design. The deal deepens China's exposure to Swedish automakers, with Geely owning Volvo Cars and the largest investor in truckmaker AB Volvo, and another Chinese investor having created NEVS in 2012 after buying the core assets and IP rights of Saab Automobile following its demise. NEVS, which owns production bases in Trollhattan in Sweden and Tianjin in China and plans another in Shanghai, has been trying to establish itself as a pure electric automaker, but has yet to produce a car. Evergrande Health's $930 million cash infusion into NEVS, announced this month, was seen as a second lifeline, giving it funds to develop costly electric vehicles and access to new auto technologies, where Evergrande is expanding. The Chinese firm is a unit of property developer China Evergrande Group and is a former investor in U.S. electric vehicle developer Faraday Future. Tuesday's deal will give NEVS a 20 percent stake in Koenigsegg and could potentially pave the way for it to begin delivering products to the market, with its loose partnership with Didi Chuxing, China's Uber, yet to yield anything concrete. "Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. ... We have both competencies and facilities to support Koenigsegg on their journey forward," NEVS Chairman Kai Johan Jiang said. Koenigsegg, backed by U.S. and Norwegian investors, sought to buy Saab after its 2011 collapse but the deal never materialized. While the luxury brand has built a plug-in hybrid, it has yet to develop a fully electric vehicle. Tesla's sales success in recent years has shown that a market for luxury electric cars exists, pushing traditional carmakers including Volkswagen's Audi and Porsche, and Tata Motors' Jaguar to develop their own versions.

China's Evergrande says it will start making electric vehicles in June

BEIJING — Chinese property firm Evergrande Group will start producing its first electric vehicles in June as part of a goal to become the world's largest new energy vehicle (NEV) company within the next three to five years, according to its chairman. Hui Ka Yan made the comments at a conference in the eastern city of Tianjin over the weekend, according to a statement published on the company's website on Tuesday. "The new energy automobile industry has a huge market prospect. Evergrande has completed the entire industrial chain layout in the field of new energy vehicles," Hui said. He also said that Evergrande plans to start selling its first electric vehicle model globally "soon," which will use electric car production technology from Swedish car makers Saab and Koenigsegg, and drive systems from Netherlands' e-Traction, according to the statement. Evergrande, China's second-largest property developer by sales, has been aggressively expanding into the automotive space in search of new areas of growth as the Chinese property market slows. Its subsidiary, Evergrande Health, invested in vehicle manufacturer National Electric Vehicle Sweden AB (NEVS), which picked up the assets of Saab, and Chinese auto battery maker Shanghai CENAT New Energy Co this year. It is also the majority investor in Swedish super car brand Koenigsegg. Not all of Evergrande's investments have gone smoothly, however. Last year, Evergrande Health bought 45 percent of Chinese electric vehicle firm Faraday Future as part of a $2 billion plan but the deal eventually turned sour. The companies have since ended their legal fight. Sales of NEV vehicles have remained a bright spot in China's car market, jumping 61.7 percent in 2018 to 1.3 million vehicles even as the overall car market contracted for the first time since the 1990s. China's biggest auto industry association predicts NEV sales to hit 1.6 million this year. Auto News Green Plants/Manufacturing Koenigsegg Saab NEVS