Published

Buyer Gains Rights to Saab Car Name

Swedish defense company AB Saab has licensed the Saab name for an undisclosed sum to National Electric Vehicle Sweden, which agreed in June to buy the assets of the bankrupt Saab Automobile AB.
#hybrid

Share

Swedish defense company AB Saab has licensed the Saab name for an undisclosed sum to National Electric Vehicle Sweden, which agreed in June to buy the assets of the bankrupt Saab Automobile AB.

The EV startup did not obtain rights to Saab's griffin logo, which is used by the defense company and truckmaker Scania AB.

NEVS also says it has finalized the purchase of Saab assets from the company's bankruptcy administrators. Swedish news agency TT reports that the price may be revealed in November when documents are filed in court.

The company, which is owned by a Chinese-Japanese consortium, says it will focus on developing its first EV at its engineering facility in Trollhattan, Sweden. NEVS expects to introduce the new model, which will ride on Saab's next-generation 9-3 platform, in about 18 months.

NEVS reiterates that its acquisition includes Saab's tooling, Trollhattan assembly plant, R&D facilities and intellectual property rights to the 9-3 and the unfinished Phoenix platform.

But Saab owner Spyker Cars NV said last year it had sold rights to the Phoenix platform for €80 million to China's Zhejiang Youngman Lotus Automobile Co. Spyker and Youngman signed a tentative equity deal last week that including producing a line of cars based on the Phoenix architecture.

None of the companies has explained the apparent discrepancy.

RELATED CONTENT

  • 2019 Honda Insight

    One of the things that rarely gets the amount of attention that it should in a typical “car review” is the fact that for a considerable amount of time drivers are not “getting on the throttle” because for a considerable number of drivers, they’re “dwelling on the binders,” a.k.a., sitting with their foot depressed on the brakes, perhaps lifting every now and then in order to nudge forward in traffic.

  • The Genovation GXE: >220 mph and Street Legal

    A 2019 Corvette Grand Sport has a starting price on the order of $66,950. The Genovation GXE, which is predicated on the Corvette Grand Sport, will set you back some $750,000.

  • Electrically Improving Powertrains

    The good news about downsized powertrains is that they can provide greatly improved fuel efficiency compared to larger engines. The not-so-good news for many drivers of cars with these smaller engines under the hood is that they can lack performance.

Gardner Business Media - Strategic Business Solutions