Scandinavian supplier body, FKG, says Saab’s new electric vehicle venture will directly recruit 200 engineers although uncertainty remains as to the future of any naming rights.
National Electric Vehicle Sweden (NEVS) was the preferred bidder announced yesterday (13 June) by Saab’s Gothenburg receivers with production thought to start sometime next year or 2014, as FKG gave the new operation a guarded welcome.
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“They are looking to hire directly 200 engineers [but] that is a drop from the [previous] 1,600,” FKG managing director, Fredrik Sidahl, told just-auto from Sweden. “I am happy it has finally come to an end, [however] we don’t know if they are allowed to call it Saab yet.”
NEVS is an international consortium formed by Japanese, Swedish and Chinese stakeholders, with yesterday’s purchase agreement covering the main assets of Saab Automobile, Saab Automobile Powertrain and Saab Automobile Tools.
The deal includes all outstanding shares in the property company which owns the Saab Automobile facilities in Trollhättan, Sweden.
Saab Automobile Parts – and General Motors’ intellectual property rights for the 9-5 – the last new model Saab launch – were excluded.
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By GlobalData“Some of the technology will come from Japan and production will be in Trollhattan,” said Sidahl. “They plan to start between 2013 and 2014.”
No financial details were made available surrounding the deal, but FKG’s members along with myriad other European and global suppliers are owed anything up to EUR300m (US$377m), while the Swedish government had to cover an initial European Investment Bank loan of EUR400m and pay a substantial tranche of Saab’s near-4,000 employees’ wages following bankruptcy last December.
Meanwhile, doubt also continues to swirl concerning the emotive issue of any future name for Saab. Defence and security company, Saab AB, has cautioned it still has the power to block the transfer of any brand rights for Saab vehicles.
Saab AB – manufacturer of the Gripen fighter aircraft – partly owns the brand name Saab together with Scania and must first give its approval to any change in owners who wish to retain the carmaker’s name.
