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Saab-Nevs to seek extension of bankruptcy protection

Goran Aničić
November 29, 2014Goran AničićNo commentMikael OstlundNational Electric Vehicle SwedenNational Modern Energy HoldingsNEVSQingbo InvestmentSaabSaab-Nevs

The owners of struggling NEVS will seek an extension of bankruptcy protection that expires at the weekend, a spokesman said Friday.

The Chinese-backed consortium, National Electric Vehicle Sweden (NEVS), took over the ailing carmaker in 2012.

NEVS planned Monday to ask for an extension of the reorganization that began at the end of August, spokesman Mikael Ostlund said.

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Production at the plant was halted in May.

While undergoing reorganization, NEVS has been able to postpone demands to pay suppliers or creditors.

NEVS has said it was in talks with two unnamed Asian carmakers, one interested in part ownership of the consortium, the other considering future cooperation.

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saab nevs

Hong Kong-based National Modern Energy Holdings is majority owner of NEVS, with a 78-per-cent stake. Qingbo Investment owns the rest.

Saab belonged to US car giant General Motors until the beginning of 2010, and was later taken over by Dutch boutique sports car maker Spyker.

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Saab filed for bankruptcy in December 2011 although the production lines had fallen silent months earlier.

Tags:Mikael OstlundNational Electric Vehicle SwedenNational Modern Energy HoldingsNEVSQingbo InvestmentSaabSaab-Nevs
Goran Aničić
the authorGoran Aničić
For over 15 years, Goran Aničić has been passionately focused on Saab automobiles and everything related to them. His initial encounter with Saab cars took place back in 2003 when the first Saab 9-3 and sedan version were introduced. At that moment, he was captivated by the car's Scandinavian design logic and top-notch engineering, and everything that followed stemmed from that first encounter. Later on, through his work at the editorial team of the Serbian automotive magazines "Autostart" and later "AutoBild," he had the opportunity to engage more closely with Saab vehicles. In 2008, he tested the latest Saab cars of that time, such as the Saab 9-3 TTiD Aero and Saab 9-3 Turbo X. In 2010, as the sole blogger from the region, he participated in the Saab 9-5ng presentation in Trollhättan, Sweden. Alongside journalists from around the world, he got a firsthand experience of the pinnacle of technological offerings from Saab at that time. Currently, Goran owns two Saabs: a 2008 Saab 9-3 Vector Sportcombi with a manual transmission, and a Saab 9-3 Aero Griffin Sport Sedan from the last generation, which rolled off the production line in Trollhättan in December 2011.
All posts byGoran Aničić

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