Again it lives---

[Pedro_The_Swift]

Saab saved by first loan payment from China's Youngman

https://www.aulro.com/afvb/images/imported/2011/10/824.jpg (http://www.autonews.com/apps/pbcs.dll/article?AID=/20111013/COPY01/310139855/1131) By John Neff (http://www.autoblog.com/bloggers/john-neff/) RSS feed (http://www.autoblog.com/bloggers/john-neff/rss.xml)
Posted Oct 13th 2011 10:59AM





As much as the universe would seemingly like to see Saab (http://www.autoblog.com/saab/) wiped off the face of the Earth, this stubborn automaker from Sweden refuses to go quietly into the night. Despite reporting two days ago that Saab was on the verge of bankruptcy (http://www.autoblog.com/2011/10/11/saab-to-finally-succumb-to-bankruptcy-today/), it has been pulled back from the edge (again) today by Chinese automaker Zhejiang Youngman Lotus Automobile Co.

Saab confirmed in a statement this morning that Youngman has issued the first payment, reportedly around $15 million, of a $97 million bridge loan (http://www.autoblog.com/2011/09/12/saab-secures-96m-bridge-loan-lodges-appeal-as-unions-push-for/) that will help keep the Swedish automaker solvent during its reorganization while it waits for both Chinese and Swedish authorities to approve a much larger investment of about 245 million Euro (http://www.autoblog.com/2011/06/13/saab-signs-second-partnership-with-chinas-youngman/) by Youngman and fellow Chinese carmaker Pang Da. Saab expects it will have the full $97 million loan in hand by October 22.

Saab sounds confident that both governments will approve the investment, though Chinese authorities have sunk deals like this before by dragging their feet or refusing to grant approval. A similar investment deal by China's Hawtai Motor Group was abandoned earlier this year (http://www.autoblog.com/2011/05/12/saab-deal-with-chinese-partner-collapses/) for a number of reasons, chief among them the government's inability to approve the transaction in time. Show full PR text

[Jojo]

Thanks for that! I hope the deal will work out.
Feels like I am going to buy a Saab now:cool:. I'm quite tempted, there are some well preserved older ones around. I like them. And spares aren't an issue either.
Hi Pedro, btw :beer::beer::woot::beer:

[digger]

Thanks for that! I hope the deal will work out.
Feels like I am going to buy a Saab now:cool:. I'm quite tempted, there are some well preserved older ones around. I like them. And spares aren't an issue either.
Hi Pedro, btw :beer::beer::woot::beer:

If I remember correctly, SAAB, VOLVO, and PUGEOT share a lot of mechanical parts.....


(well they used to, I had an 80's euro 604 pugeot, parts and especially head gaskets well cheaper using volvo parts (same numbers I believe)

[Pedro_The_Swift]

Sorry Jojo,,

Saab shirks takeover bid by China's Pang Da and Youngman, terminates deal

https://www.aulro.com/afvb/images/imported/2011/10/319.jpg (http://www.autoblog.com/2011/10/24/saab-shirks-takeover-bid-by-chinas-pang-da-and-youngman-termin/#continued) By Zach Bowman (http://www.autoblog.com/bloggers/zach-bowman/) RSS feed (http://www.autoblog.com/bloggers/zach-bowman/rss.xml)
Posted Oct 24th 2011 11:01AM




Saab (http://www.autoblog.com/saab) has officially confirmed that it has terminated its deal with Pang Da (http://www.autoblog.com/tag/pang%20da) and Youngman (http://www.autoblog.com/tag/youngman). In a press release, the company said that the deal came to an end because both of its Chinese partners failed to live up to their end of the bargain; namely supplying Saab with the interim funding necessary to continue operations during the manufacturer's reorganization. In response, Pang Da and Youngman apparently offered a complete takeover by purchasing 100-percent of the Swedish automaker's shares, but Saab since rejected that offer, calling it "unacceptable." However, Saab notes that further discussions are ongoing.

That leaves the future of Saab in its most precarious state since the deal with Pang Da and Youngman was initially announced back in July. While the automaker recently signed a smaller deal with North Street Capital, it's unclear where Saab is headed in the immediate future. Why has CEO Victor Muller and his team decided that it's better to risk slipping into bankruptcy instead of having the brand live on under Chinese ownership? Is there another partner in the works, is this just a misguided power play, or is there something else afoot entirely? Only time will tell – as Saab's last 24 months indicate, absolutely nothing can be ruled out. For now, hit the jump (http://www.autoblog.com/2011/10/24/saab-shirks-takeover-bid-by-chinas-pang-da-and-youngman-termin/#continued) for the full press release.

[Jojo]

Weird news indeed. I'll have to listen to the grapevine to see what's going on apparently. How come that you have all that information before me, although living a few miles further away, Pedro? ;):cool:

[Pedro_The_Swift]

Saab agrees to be sold to Pang Da, Youngman

https://www.aulro.com/afvb/images/imported/2011/10/74.jpg (http://www.autoblog.com/2011/10/28/saab-agrees-to-be-sold-to-pang-da-youngman/#continued) By Zach Bowman (http://www.autoblog.com/bloggers/zach-bowman/) RSS feed (http://www.autoblog.com/bloggers/zach-bowman/rss.xml)
Posted Oct 28th 2011 9:56AM

14 (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fwww.autoblog.com%2F2011% 2F10%2F28%2Fsaab-agrees-to-be-sold-to-pang-da-youngman%2F%3Fa_dgi%3Daolshare_facebook&t=Saab%20agrees%20to%20be%20sold%20to%20Pang%20Da% 2C%20Youngman)3 (http://twitter.com/share?url=http%3A%2F%2Fwww.autoblog.com%2F2011%2F1 0%2F28%2Fsaab-agrees-to-be-sold-to-pang-da-youngman%2F%3Fa_dgi%3Daolshare_twitter&text=Check%20out:%20Saab%20agrees%20to%20be%20sold %20to%20Pang%20Da%2C%20Youngman&via=therealautoblog)

Comments18 (http://www.autoblog.com/2011/10/28/saab-agrees-to-be-sold-to-pang-da-youngman/#aol-comments)



Despite shunning a previous takeover bid earlier this month (http://www.autoblog.com/2011/10/24/saab-shirks-takeover-bid-by-chinas-pang-da-and-youngman-termin/), Swedish Automobile N.V. and Chinese automakers Youngman (http://www.autoblog.com/tag/youngman) and Pang Da (http://www.autoblog.com/tag/pang%20da) have signed a memorandum of understanding for the outright purchase of Saab (http://www.autoblog.com/saab) and Saab Great Britain for just €100 million, or around $140 million USD. The deal is still subject to the approval of various authorities, including the Chinese government, but the deal is expected to go through. Guy Lofalk, an administrator in the reorganization of Saab, has officially withdrawn his application to withdraw from reorganization. Unfortunately, this doesn't mean that Saab is completely out of the woods.

According to The New York Times, industry watchers suggest may take anywhere from $800 million to $1.5 billion to set the beleaguered automaker back on the path toward profitability, and it's unclear whether Pang Da and Youngman have the desire and the ability to invest that sort of cash into the company. At this point, Saab hasn't produced a single vehicle since spring of this year, and it remains unclear when – or even if – assembly will resume. Hit the jump (http://www.autoblog.com/2011/10/28/saab-agrees-to-be-sold-to-pang-da-youngman/#continued) for a press release on the deal. Show full PR text

[Pedro_The_Swift]

Saab's Chinese buyers commit over $850M in long-term funding

https://www.aulro.com/afvb/images/imported/2011/11/1071.jpg (http://www.autoblog.com/2011/10/31/saabs-chinese-buyers-commit-over-850m-in-long-term-funding/#continued) By Steven J. Ewing (http://www.autoblog.com/bloggers/steven-j-ewing/) RSS feed (http://www.autoblog.com/bloggers/steven-j-ewing/rss.xml)
Posted Oct 31st 2011 10:45AM





Saab (http://autoblog.com/saab) may have finally been saved last week when Chinese companies Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. agreed to buy the Swedish automaker (http://www.autoblog.com/2011/10/28/saab-agrees-to-be-sold-to-pang-da-youngman/), thus providing some much-needed short- and long-term financing. Pang Da and Youngman purchased Saab for 100 million euros ($142M USD) and they are offering up a €50 million ($70M) bridge loan. Most importantly, the Chinese companies have now pledged €600 million ($854M) in long-term funding. That's assuming, of course, that the Chinese government gives this deal its seal of approval – a very big "if."

According to Saab's restructuring plan, vehicle production will once again resume in Sweden and Mexico, though vehicles may be built in China in the future. Saab is keen to get its latest products – the 9-4X (http://autoblog.com/saab/9-4x) and 9-5 SportCombi (http://autoblog.com/tag/9-5+sportcombi) – out to its key markets, and hopes to sell up to 55,000 units in 2012, with an even larger goal of moving 205,000 units per year in the long-term. That's very optimistic, especially considering that in 2010, Saab sold just under 32,000 vehicles.

Even so, Pang Da and Yougman are confident that Saab can become a profitable company in the very near future. The restructuring plan states that 2012 and 2013 will be "financial transition years," with full profitability expected in 2014. Follow the jump to read the full release. Show full PR text

[Jojo]

This time I've heard about it before!!!:D:cool:
Cheers

[Pedro_The_Swift]

GM taking issue with Saab ownership change

https://www.aulro.com/afvb/images/imported/2011/11/915.jpg (http://uk.reuters.com/article/2011/11/04/saab-gm-idUKN1E7A30VZ20111104?feedType=RSS&feedName=consumerproducts-SP&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FUKConsumerProducts+ %28News+%2F+UK+%2F+Consumer+Products+%26+Retail%29 ) By Jeremy Korzeniewski (http://www.autoblog.com/bloggers/jeremy-korzeniewski/) RSS feed (http://www.autoblog.com/bloggers/jeremy-korzeniewski/rss.xml)
Posted Nov 4th 2011 6:45PM




Big trouble is brewing in little China. While Swedish automaker Saab (http://autoblog.com/saab) was has agreed to sell itself (http://www.autoblog.com/2011/10/28/saab-agrees-to-be-sold-to-pang-da-youngman/) to Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. for what seemingly amounts to a pittance ($142 million and up to $854 million in long-term funding), General Motors (http://autoblog.com/tag/gm), Saab's former parent in the United States, is apparently none too pleased.

In a statement by spokesman Jim Cain, General Motors noted the following: "GM would not be able to support a change in the ownership of Saab which could negatively impact GM's existing relationships in China or otherwise adversely affect GM's interests worldwide."

How would GM's Chinese efforts be negatively impacted? Remember that Saab's current line of vehicles uses major structures and technologies developed from The General's latest parts bins. Consider, too, that GM has a major deal with SAIC, the largest automaker in China. If Pang Da and Youngman were able to procure GM's intellectual property and technologies as a result of the Saab purchase – especially at cut-rate pricing – SAIC and its costlier joint venture with General Motors would look more than a bit out of place.

According to Reuters, General Motors likely still has enough control of Saab to squash the pending sale to its would-be Chinese owners if it is in the company's best interest to do so. Plus, the Chinese authorities have yet to put their stamp of approval on the purchase of Saab. In other words, this already long and impossibly complicated story continues to get even more so.
News Source: Reuters (http://uk.reuters.com/article/2011/11/04/saab-gm-idUKN1E7A30VZ20111104?feedType=RSS&feedName=consumerproducts-SP&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FUKConsumerProducts+ %28News+%2F+UK+%2F+Consumer+Products+%26+Retail%29 ) via The Truth About Cars (http://www.thetruthaboutcars.com/2011/11/gm-issues-death-sentence-to-saab-deal-with-china/)

[Pedro_The_Swift]

Swedish Automobile may be forced to liquidate even if Saab sale goes through (http://www.autoblog.com/2011/11/12/swedish-automobile-may-be-forced-to-liquidate-even-if-saab-sale/)

By Chris Shunk (http://www.autoblog.com/bloggers/chris-shunk/) RSS feed (http://www.autoblog.com/bloggers/chris-shunk/rss.xml)
Posted Nov 12th 2011 6:01PM


[/URL]

[URL="http://www.bloomberg.com/news/2011-11-11/swedish-automobile-may-liquidate-as-debt-may-trump-saab-spyker-sales-cash.html"]https://www.aulro.com/afvb/images/imported/2011/11/632.jpg (http://www.autoblog.com/2011/11/12/swedish-automobile-may-be-forced-to-liquidate-even-if-saab-sale/#aol-comments)Swedish Automobile just can't seem to catch a break. Its main brand, Saab (http://www.autoblog.com/saab/), has received government protection from creditors (http://www.autoblog.com/2011/10/11/saab-to-finally-succumb-to-bankruptcy-today/), looked for loans and even secured a tentative deal with Chinese automakers (http://www.autoblog.com/2011/10/13/saab-saved-by-first-loan-payment-from-chinas-youngman/), but even if it manages sell the Griffin marque, Swedish Automobile may still end up getting liquidated.

Bloomberg reports that Saab parent Swedish Automobile's many dealings would raise 132 million euros ($181 million U.S.) – if everything goes according to plan. That's a big if, and it still doesn't outweigh the 136.5 million euros ($188M) that Swedish Automobile reportedly owes its creditors. According to Bloomberg, that could mean that the company may liquidate regardless of whether or not the sale to Zhejiang Youngman Lotus Automobile and Pang Da Automobile Trade Co. goes through.

According to the report, Swedish Automobile could get through the sale without liquidation if it can wrap up the sale of Spyker (http://autoblog.com/make/spyker/). Private equity firm North Street Capital LP has tentatively agreed to purchase Spyker (http://www.autoblog.com/2011/09/28/spyker-sold-to-private-equity-firm/) for 32 million euros ($43 million U.S.). That sounds like a done deal, but given the company's recent fortunes, we wouldn't necessarily count on all going according to plan.

News Source: Bloomberg (http://www.bloomberg.com/news/2011-11-11/swedish-automobile-may-liquidate-as-debt-may-trump-saab-spyker-sales-cash.html)

[Pedro_The_Swift]

Saab files for bankruptcy (http://www.autoblog.com/2011/12/19/saab-files-for-bankruptcy/)

https://www.aulro.com/afvb/images/imported/2011/12/418.jpg (http://online.wsj.com/article/SB10001424052970204791104577107812414053178.html)
Posted Dec 19th 2011 9:15AM

[/URL]



The Wall Street Journal reports [URL="http://www.autoblog.com/saab"]Saab (http://www.autoblog.com/2011/12/19/saab-files-for-bankruptcy/#aol-comments) has finally filed for bankruptcy protection in a Swedish district court. Saab CEO Victor Muller (http://www.autoblog.com/tag/victor%20muller) reportedly turned in the bankruptcy application just hours before a court was set to rule on the company's reorganization. According to the company's Facebook page, the filing comes nearly two years to the day after Saab first learned it would be scrapped as part of the General Motors (http://www.autoblog.com/tag/general%20motors) reorganization.

The latest development in the automaker's tireless fight for survival could be the last chapter in the Saab story. Saab has been in a state of suspended production since April when the company ran out of cash and the company's creditors came knocking. The company then entered into government-sanctioned creditor protection as Muller worked to find investors in the storied Swedish brand.

An on again, off again suitor soap opera carried on for months with Chinese companies Youngman (http://www.autoblog.com/tag/youngman) and Pang Da (http://www.autoblog.com/tag/pang%20da), but repeated cash flow delays and vetos from GM (http://www.autoblog.com/tag/gm) squashed that deal before it could get off of the ground. GM expressed concerns over Saab working so closely with its direct competitors in China when so much of the Saab technological encyclopedia was penned by the American automaker.

[Pedro_The_Swift]

Report (http://autoblog.search.aol.com/search?q=report)

Sweden picks up tab on bankrupt Saab's EU loan (http://www.autoblog.com/2012/01/30/sweden-picks-up-tab-on-bankrupt-saabs-eu-loan/)

https://www.aulro.com/afvb/images/imported/2012/01/30.jpg (http://europe.autonews.com/apps/pbcs.dll/article?AID=/20120127/ANE/301279831/1265) By Jonathon Ramsey (http://www.autoblog.com/bloggers/jonathon-ramsey/) RSS feed (http://www.autoblog.com/bloggers/jonathon-ramsey/rss.xml)
Posted Jan 30th 2012 10:59AM




Way back at the beginning of Saab's struggle for life after General Motors (http://www.autoblog.com/gm), exotic car firm Spyker (http://www.autoblog.com/tag/spyker/) was granted a €400-million loan (http://www.autoblog.com/2010/02/12/saab-spyker-is-go-eib-reportedly-approves-400m-euro-loan-share/) ($527M U.S.) from the European Investment Bank. The loan was approved after it was guaranteed by Sweden's Debt Office, and Saab's recent bankruptcy filing forced the Debt Office to back up the guarantee with a €217-million payment ($286M) to the EIB – the portion of the loan that Saab (http://www.autoblog.com/saab) actually drew upon.

It's not exactly bad news for the government, since the government's stake in Saab Automobile Parts and Saab Automobile Tools – used to guarantee its own guarantee of the EIB loan – is understood to be worth more than €217 million.

In the next couple of weeks, bids are expected from both China's Zhejiang Youngman Lotus (http://www.autoblog.com/2012/01/19/chinas-youngman-to-wage-new-bid-for-saab/) and Turkey's Brightwell Holdings (http://www.autoblog.com/2012/01/22/turkish-private-equity-firm-jumps-into-saab-buying-fray/) private equity group for the purchase of Saab in its entirety. No one can predict the outcome, but it this last-ditch situation might have the best chance: the European auto supplier organization CLEPA is assisting Youngman, the numbers being hinted at would indicate sane and motivated buyers, GM's intellectual property concerns appear to have been addressed, and it's certain that the sellers would love to see a bit of sun after a long spell of gloom for the hard luck brand.

[Pedro_The_Swift]

"Shocked" Brightwell drops Saab bid, blames GM intransigence (http://www.autoblog.com/2012/02/28/shocked-brightwell-drops-saab-bid-blames-gm-intransigence/)



https://www.aulro.com/afvb/images/imported/2012/02/7.jpg (http://www.just-auto.com/news/shocked-and-upset-brightwell-confirms-ending-saab-race_id120698.aspx)

Nearly three months on the Saab (http://www.autoblog.com/saab) story is the same: company makes a bid, General Motors (http://www.autoblog.com/gm) knocks it back. But this time, the latest round of corporate "He said/She said" puts Turkey's Brightwell Holdings on the other side of the table instead of a Chinese company. Brightwell was the other publicly identified bidder (http://www.autoblog.com/2012/01/22/turkish-private-equity-firm-jumps-into-saab-buying-fray/) for Saab that pledged to make a bid, along with Chinese concern Youngman.

Brightwell blames GM "intransigence," a familiar epithet by now, has scuppered the possibility of a deal. GM says that's not the case, rather that a deal for Saab can't include any of the technology licensed from GM. Brightwell believed that that condition only applied to Chinese buyers, since GM's position that it didn't want to compete with another company (http://www.autoblog.com/2012/01/19/chinas-youngman-to-wage-new-bid-for-saab/) using its intellectual property was always taken in reference to interest from companies like Youngman and Hawtei.

If GM's position is that it won't license its technology to anyone anywhere, that could alter the landscape for the six to 14 bidders (http://www.autoblog.com/2012/02/21/at-least-6-7-parties-bidding-on-saab-could-bmw-be-one-of-them/) rreported to be hovering over Saab's remains. Based on Youngman's last statements, it should still be in the mix, though: it pledged to make a bid for Saab (http://www.autoblog.com/2012/01/19/chinas-youngman-to-wage-new-bid-for-saab/) that avoids GM-developed vehicles like the 9-5 (http://www.autoblog.com/saab/9-5) and 9-4X (http://www.autoblog.com/saab/9-4x) and restarts the brand with the new 9-3 (http://www.autoblog.com/saab/9-3) on Saab's Phoenix architecture.

Brightman hasn't ruled itself out completely yet. Having spent "millions of euros" on its bid, a firm partner said that if GM is open to discussions then he "will jump on a plane and visit them in Detroit."


News Source: Just Auto (http://www.just-auto.com/news/shocked-and-upset-brightwell-confirms-ending-saab-race_id120698.aspx)

[rick130]

'They' could become cousins ?

Tata Motors bids for ailing Saab


New Delhi: More than three years after it acquired British car brand Jaguar Land Rover, Tata Motors may spread its wings in the Scandinavian market. The automaker, which last week placed a bid for the assets of bankrupt Swedish carmaker, Saab, for around $350 million, would be pitted against the likes of Volvo and Chinese auto giant Youngman, sources said. It is understood Tata’s global acquisition team has been in negotiations with Saab and private equity players for a prospective acquisition for JLR. When contacted, a Tata Motors spokesperson said, “We do not comment on speculation.” According to Saab officials, the company has received at least five bids, mostly from outside Sweden.
However, the company did not divulge the details.
Saab’s trustee Hans Bergqvist said last week that the offers were filed before a Monday deadline. FE


Tata Motors bids for ailing Saab (http://www.financialexpress.com/news/tata-motors-bids-for-ailing-saab/920577/)

[Pedro_The_Swift]

Saab gets new $492M bid from Youngman (http://www.autoblog.com/2012/04/18/saab-gets-new-492m-bid-from-youngman/)

https://www.aulro.com/afvb/images/imported/2012/04/617.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477680) https://www.aulro.com/afvb/images/imported/2012/04/618.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477683/)https://www.aulro.com/afvb/images/imported/2012/04/619.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477689/)https://www.aulro.com/afvb/images/imported/2012/04/620.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477680/)https://www.aulro.com/afvb/images/imported/2012/04/621.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477681/)https://www.aulro.com/afvb/images/imported/2012/04/622.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477682/)https://www.aulro.com/afvb/images/imported/2012/04/623.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477684/)https://www.aulro.com/afvb/images/imported/2012/04/624.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477685/)https://www.aulro.com/afvb/images/imported/2012/04/625.jpg (http://www.autoblog.com/photos/2012-saab-9-4x/#photo-3477686/)


By
Posted Apr 18th 2012 1:29PM





Youngman (http://www.autoblog.com/tag/youngman) has made another bid for bankrupt Saab (http://www.autoblog.com/saab), according to new reports. The Chinese automaker has offered to buy what's left of Saab for $470 million at current conversion rates. The news comes courtesy of Dagens Industri. The newspaper also indicates that's the absolute lowest the Swedish automaker's pledgees and real estate owners will accept to settle the company's impressive debt. The deal would also set aside an additional $1.47 billion to restart production at the mothballed Trollhattan facility. Other foreign automakers are also vying over Saab's remains, including India's Mahindra & Mahindra (http://www.autoblog.com/tag/mahindra).

Pang Da (http://www.autoblog.com/tag/pang%20da), meanwhile, seems to have no interest in continuing to pursue Saab. The company paid out around $59 million for vehicles Saab was supposed to produce. That never happened, and now the Chinese company has had to undergo the unpleasant task of reporting that loss to its investors.

Saab reportedly owes (http://www.autoblog.com/2012/04/11/saabs-assets-less-than-one-third-of-its-debts/) around $1.9 billion at the moment, and its assets are valued at just $532 million.


News Source: The Local (http://www.thelocal.se/40300/20120417/)

[Pedro_The_Swift]

[/URL]

New owners still struggling to secure rights to use Saab name (http://autoblog.search.aol.com/search?q=report)

https://www.aulro.com/afvb/images/imported/2012/06/102.jpg (http://europe.autonews.com/apps/pbcs.dll/article?AID=/20120627/ANE/120629921/1131) https://www.aulro.com/afvb/images/imported/2012/06/103.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808146/)https://www.aulro.com/afvb/images/imported/2012/06/104.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808147/)https://www.aulro.com/afvb/images/imported/2012/06/105.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808148/)https://www.aulro.com/afvb/images/imported/2012/06/106.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808149/)https://www.aulro.com/afvb/images/imported/2012/06/107.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808150/)https://www.aulro.com/afvb/images/imported/2012/06/108.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808151/)https://www.aulro.com/afvb/images/imported/2012/06/109.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808152/)https://www.aulro.com/afvb/images/imported/2012/06/110.jpg (http://www.autoblog.com/photos/saab-cars-north-america-heritage-collection-for-sale/#photo-4808153/)



Posted Jun 27th 2012 4:32PM


(http://www.autoblog.com/bloggers/danny-king/rss.xml)






Not to state the obvious, but if you're going to buy an automaker, it's probably advisable to secure rights to use the name.

That's what the new owners of [URL="http://www.autoblog.com/saab/"]Saab (http://www.autoblog.com/2012/06/27/new-owners-still-struggling-to-secure-rights-to-use-saab-name/#aol-comments) are trying to work out after buying the iconic Swedish automaker (http://green.autoblog.com/2012/06/15/saab-reborn-all-electric-car-company-sale-asian-swedish/) earlier this month, Automotive News reports.

National Electric Vehicle Sweden (NEVS), the Chinese-Japanese conglomerate, acquired the company's physical assets, including its factory in Trollhättan, but didn't get rights to use the Saab name and logo. Truckmaker Scania and defense company Saab AB maintain the name and logo rights, and will need to sign off on NEVS using it, according to the publication. The parties are in discussions.

Saab, which made its first cars in 1947, was acquired out of bankruptcy earlier this month. The new ownership group, led by ex-Volvo Trucks chief Karl-Erling Trogen, is planning on turning the company into an electric vehicle maker and will likely start with a battery-electric powered 9-3 (http://www.autoblog.com/saab/9-3/) in 2014.