NEVS stopped using the Saab trademark as a trademark in 2016.
Although it’s been some time since the Saab brand made headlines, real estate problems in China continue to shake things up. Saab, a defunct Swedish brand of cars, is one of those things. Its assets have been passed around to many companies and wide-eyed ventures ever since General Motors bought it to SpykerCars in 2010. There may be another owner for it soon.
Automotive News Europe reports that China Evergrande Group (which owns Saab assets) is seeking US and European investors to purchase National Electric Vehicle Sweden. This is as the company navigates the possibility of defaulting on over $300 billion in debts. NEVS, one of the Group’s automobile divisions, was the company that purchased Saab’s assets in 2012. In 2016, NEVS stopped using the Saab trademark.
Stefan Tilk, CEO of NEVS, told the publication that funds are available to the company for a while. However, he didn’t give any details on a time frame. According to the report, NEVS is open for a sale or any other financing. It’s also looking at US and European investors. These include industrial partners and venture capitalists who have expressed interest in the brand. The sale of NEVS is not yet finalized as China Evergrande Group continues to navigate its financial difficulties.
The company hopes to attract new investors and retain control over its assets. According to the report Evergrande wants to maintain a foothold in Europe which NEVS provides through its automobile facilities. Unfortunately, the Saab brand is unlikely to be revived by either a sale or an investment. After the 2008 financial crisis, which decimated the global economy and drove two US automakers into bankruptcy, the brand suffered a lot of its momentum in the 2000s. The Saab was also forced to sell.