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Saab to hire 200 engineers, might build gas cars with Mahindra

The brand formerly known as Saab is still intent on teaching The Little Engine That Could a few ticks about persistence. We say "formerly known" because it turns out that National Electric Vehicle Swedent (NEVS), the Sino-Japanese investment consortium that just bought the majority of Saab's assets, minus Saab Automobile Parts AB, may not actually own the rights to the Saab brand name. According to a report in Di.se via Saabs United, NEVS will need to negotiate with Scania and the Swedish aerospace and defense group, Saab AB, for the right to name its forthcoming electric car the Saab 9-3.
NEVS is hiring 200 engineers now to work on its electric car program, and reports are that it will hire more as it gets closer to the 2014 launch. It will be based on the current (read: ancient) 9-3, and we hope NEVS is succeeds in getting the naming rights, because the NEVS 9-3 just doesn't have the same ring. NEVS will likely target China as the model's main market.
However, it's rumors of their second negotiating ploy that we're really rooting for: to work with Mahinda & Mahindra, the Indian company once in the running for Saab's assets, develop a petrol-powered 9-3 on the next-generation Phoenix platform, based on Jason Castriota's design.

There will be five new SAAB EVs, starting in 2017

National Electric Vehicle Sweden (NEVS), which bought Swedish automaker Saab out of bankruptcy in 2012, has finally solidified some of its vehicle-making plans. And given the prominence of the word "electric" in the company's name, NEVs is staying true to its vision, announcing that it will have five electric vehicle models for sale by 2018. The company recently made the announcement in Stockholm, according to Saab Blog. The first EV will be based on the Saab 9-3 platform and may be available in China and Sweden by 2017. The following year, NEVS is planning to debut four more all-electric models, including a sports car, SUV, crossover, and a fastback. The cars will be assembled in Tianjin, China. Whether the Saab badge will actually be used remains in question, as NEVS is no longer affiliated with the Saab AB aerospace company. Making things even potentially murkier is the fact that NEVS said this fall that it would sell the intellectual property rights for the 9-3 to the Scientific and Technological Research Council of Turkey (TUBITAK), which would make the model the official Turkish National Car. Then again, nothing's been simple for Saab, which has passed through General Motors and Spyker and has had multiple reorganizations. Either way, the plan follows up a summer announcement that NEVS would work with China-based automaker Dongfeng Motor Corp. to develop electrified vehicles. Dongfeng has worked with electric-vehicle leaders Nissan and Renault as well as Honda, Kia and Peugeot. The company made more than 3.8 million vehicles in 2014.

NEVS' reorganization plan approved after all?

What a difference a day makes. Thursday, we reported that current Saab parent National Electric Vehicle Sweden had its application for creditor protection denied by the Swedish court for being "vague and completely undocumented." But NEVS was back in court on Friday, and this time the application was granted. However, the story continued to get weirder as defense contractor Saab AB allegedly revoked NEVS' rights to use the Saab name.
NEVS did put out a brief press release confirming the court decision saying: "The District court of Vänersborg, Sweden, today August 29 approved the application for reorganization from National Electric Vehicle Sweden AB." The company allegedly has over 90 creditors, and according to Reuters, it owes them roughly 400 million Swedish krona ($57.56 million). The business says that it is in negotiations with two, unnamed companies to get additional funding.
Also, according to Reuters, Saab AB, best known for making fighter planes, has revoked NEVS' rights to the Saab brand name because the company's application for creditor protection gave the defense contractor that right. When NEVS bought Saab, it only acquired the automaker's physical assets, and had to negotiate for the rights to use the name.