Two days after the tenth anniversary of the declaration of bankruptcy, the company “Saab Automobile” is going down in history after a long bankruptcy procedure. The car brand, once worth several billion, was not allowed to be sold during the bankruptcy proceedings, and the brand name itself was kept by the Saab Group.
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Bankruptcy proceedings have been completed
On Tuesday, the bankruptcy trustees submitted their final report and proposal for a final dividend in the bankruptcy to Vänersborg District Court. The total accumulated debt was 13 billion Swedish kronor, and the bankruptcy trustees managed to collect 3.2 billion Swedish kronor that goes to creditors. In addition to this, about 3,000 former employees have an additional 17.7 million Swedish kronor to claim.
Not to be confused by this information, August 31, 2012 NEVS finalized its acquisition of the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB. NEVS bought the assemblies, not Saab Automobile, which is entering bankruptcy proceedings with huge debts that have only accumulated. And so, until yesterday.
Only a fraction of the large debt will be paid to the company’s creditors
A large number of suppliers and creditors of this company will be able to collect little from their receivables. In this whole bankruptcy procedure, as always, the lawyers profited the most. Bankruptcy trustee Hans L. Bergqvist testified at a press conference yesterday about the size of the debt, saying the following: “An astronomical sum and we had a modest wallet at our disposal. There were 20-30 million in the company and we estimated that it cost ten million per week.”
The Saab car brand has not been sold
The biggest value in the bankruptcy was probably the car brand Saab, which sets the hearts of many car lovers on fire. The Volvo Cars brand is currently estimated to be “worth SEK 165 billion”. Even if Saab’s car brand are only worth a fraction today, it should be billions according to marketing experts.
But the car brand Saab could not be sold by the bankruptcy trustees in the bankruptcy. Initially, NEVS was allowed to call new cars Saab, but the defense Saab Group withdrew the right to use the name Saab in 2015, when Nevs got into trouble and applied for reconstruction.
Will there be Saab cars in the future?
Today, the right to manufacture cars with the Saab car brand is held by the defense group Saab AB. The logo with a Griffin also belongs to the defense group as well as model names such as 9-3 and Saab Aero. The name 9-5 belonged to the bankruptcy estate. As recently as September, Saab renewed its rights to the Saab car brand.
At the moment, for a company such as the high-tech Saab Group, starting the production of electric vehicles that are in the market would not be a problem. With the new electric car technology, it would be much easier than before to share the platform with another group of vehicles and start production.
What do Saab Group say?
However, according to the latest statements from this large company, there are no announcements about starting car production, at least for now:
– “We have no plans to use our brand for car manufacturing”, says Mattias Rådström, press manager at Saab Group, which owns the rights to the car brand.
Saab group needs to bring the Saab car back find some Chinese investors and do this !
The Chinese???? They can’t make a decent sandwich!!!
Think you’ll find you’re talking out of your ill-informed racist arse ..
Some BMW motorcycle engines are made in China and Quality is great.
They are building Volvo’s in China
Check your things in your house before you post this kind of racist remarks
If SAAB oversee manufacture and stipulate certain rules in its design it would be awesome!
Please no Chinese anymore! They are not reliable
I was waiting for some information like this just to see where things seem to be since NEVS has abandoned Sweden. However, I am still hopeful that there could be something brewing within the SAAB group (or others if there’s no SAAB chance) to start up things auto wise (EV?) in a whole different way that would be sustainable. Retro(SAAB’s sensibilities), but so progressive that is becomes one of the world’s leaders, learning from the past. It would be great to use Northern European ingenuity and investment that did not lead to China. Is there enough will and determination and all that is required to follow through?
I am so sorry to hear that, all our cars were Saab, well with the exception of a volvo estate. Saab were unique and will be forever our favourite. SHOULD have never gone to America!!!!! What a Shame, that there are so many billionaires out in this world who could not save SAAB. We always keep our hope high!!!!!!!!!! Thank you Saab, for bringing so much joy in our world!
The chinese own Volvo but let Volvo do what they want. They value euro design and engineering quality over chinese crap so they let the Swedes run wild!!
Correct.
Geely, where are you?
You own Volvo, London Taxi, Polestar and Lotus, this would be a great fit for your portfolio!
You could bring back some of the old stylings and idiosyncrasies from the original 900 as the 900 Turbo was the equivalent of Tesla of today!
No brainer!
Could you send me a Saab 97_x
I will miss Saab and this my favorite car. I had 9000 CS turbo. It was the best ever a unique car.
That’s all fine and dandy, but I’d rather not support a company that has ties to the CPC/CCP, I don’t want to fund a company that have ties to genocide no thank you
Agreed
Die had Saab guy in USA , we should start a group to save as many salvageable Saabs here as we can, before they are all gone. A decent source of 2.3 short blocks would be a good start!!
After the GM desaster i would be rather careful in blaming Chinese…