Saab is struggling to avoid bankruptcy; nevertheless, the company has lost the rights to use its own brand's name.
NEVS (National Electric Vehicle Sweden AB) is trying to revive car manufacturing. The District court of Vänersborg, Sweden has recently granted the company’s request for creditor protection. However, the rights to use Saab name now belong to Saab AB, which deals with various solutions ranging from military defence to civil security.
The carmaker has good and close relationship with Saab AB and believes it will be able to retrieve the brand name in the nearest future. At the moment, NEVS owes around €43.5 million to suppliers.
All effort goes into searching for investors. That is why the company has announced a pause in developing the all-electric Saab 9–3 sedan.
