National Electric Vehicle Sweden (NEVS) is playing down the impact of not being able to use Saab’s historic Griffin logo following its purchase of the bankrupt automaker.
NEVS completed its takeover of Saab for an undisclosed price this week and despite being granted permission to use the name by defence company, Saab AB, has met fierce opposition from part brand name owner, Scania, which voiced fears around potential Chinese piracy.
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“The important thing for us is to have the Saab name,” a NEVS spokesman told just-auto from Sweden. “The Griffin logo is not that important…because we want to build our own identity. “We won’t use the Griffin logo at all – the logo has to be something we develop.”
Scania slammed the door shut on any chance NEVS could use the Griffin symbol by raising concerns about the the prevalence of copies in China – the Saab buyer has a Chinese connection – although it stressed there was no link between the two.
“There are a lot of brand pirates in China – I don’t say NEVS has that intention…so to be sure there is no risk we say ‘no thank you,’ a Scania spokesman told just-auto.
NEVS revealed it had paid for Saab with “100% cash” from National Modern Energy Holdings, which is managed from Hong Kong and registered in the British Virgin Islands.
The Hong Kong company is China Dragon Based Holdings, the original operation that NEVS majority shareholder, Kai Johan Jiang registered in 2004, although the EV maker stressed the Saab buy was “not a Chinese investment.”
News NEVS paid for Saab in full with hard cash could now see the bankrupt automaker’s myriad suppliers look with forensic attention to any possibility of recouping enormous losses.
NEVS itself is batting that question back to Saab’s receivers in Gothenburg, insisting it was now looking ahead having gained control of the Trollhattan factory keys.
And speculation Volvo is about to announce redundancies at its Gothenburg plant – with some of those axed recently sacked from Saab could well see those same employees beating a path back to Trollhattan as NEVS has begun a modest recruitment campaign.
