China’s National Electric Vehicle Sweden (NEVS), which bought bankrupt carmaker Saab in 2012, won protection from creditors from a Swedish court on Friday while it concludes funding talks.
Tag Archives: (NEVS)
Court rejects Saab owner, NEVS, creditor protection request
A Swedish court rejected an application from China’s National Electric Vehicle Sweden (NEVS), which bought bankrupt Saab in 2012, for protection against creditors while it concludes funding talks.
NEVS presents Saab 9-3 EV prototype
National Electric Vehicle Sweden (NEVS), the company working to resurrect the Saab brand, unveiled the Saab 9-3 Electric Vehicle as designed and produced as part of a prototype series in Trollhättan. NEVS halted production of the conventional Saab 9-3 Aero in May as it struggles to sort out its financing.
NEVS: we’re not insolvent, suppliers will eventually be paid
National Electric Vehicle Sweden (NEVS), the financially struggling company resurrecting the Saab brand, issued a statement saying that while it does not have enough liquid cash as today to pay all outstanding debt, it is not insolvent; its assets are larger than its debt.
Saab to be reborn as electric vehicle manufacturer?
A multinational joint venture has bought the assets of bankrupt Saab, and says Saab will become an electric vehicle manufacturer. The new company, National Electric Vehicle Sweden, (NEVS) is a consortium of National Modern Energy Holdings of China (the largest shareholder) plus Japanese and Swedish interests. The idea is to make an electric version of the 9-3 by 2014 in Saab’s Swedish factory. The technology will mostly be Japanese, but the main target market will be China.
