After more than a year of to-ing and fro-ing over the popular brand, the Saab soap opera could be set for a happy ending.
It’s been a rough 18 months for the Swedish automotive company but there is a light at the end of the tunnel – an ‘electric’ light, if you will – in the form of possible saviours National Electric Vehicle Sweden (NEVS).
National Electric Vehicle Sweden to transform Saab
NEVS – whose no nonsense name pretty much describes the company in a nutshell – are rumoured to have paid between $210 million and $250 million US dollars for the beleaguered company. This sum becomes even more impressive when converted into Swedish Kronor, translating to an eye-watering 1.5 to 1.8 billion SEK.
The buyout will not only save Saab but dramatically revolutionise the brand, transforming it into a company producing solely electric/hybrid cars. A deal had been fleshed out with BMW to continue producing petrol engines, but this deal has since fallen through.
Hybrid Saab Production
If the rumours are true Saab will soon begin producing hybrid vehicles at its old plant at Trollhattan, Sweden. Having worked on electric versions of the Saab 9-3 model in the past, the company’s administrators are trying to package the move towards electric vehicles as ‘a natural progression’ for the company.
However, anyone who has been following the Saab saga in recent months will have noticed that the concept of a natural progression doesn’t sit well with the company’s situation; the cycle of fire sale and failed purchase has led the Swedish company to view any potential investment as better than none at all, so the idea that NEVS’ bid has been carefully selected from a shortlist of many more doesn’t completely ring true.
Next time they need to raise cash, Saab should consider commissioning an HBO mini-series following their trials and tribulations. Should the epic story experience yet another plot twist, this might be the only option remaining.
Source: Press release