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Saab affair finally settled as well as a trade mark "SAAB"

Monday, 03 September 2012
The Saab automobile which had been in bankruptcy management has now been officially resolved with the automobile sold to the new buyer, the Swedish Electric car Consortium otherwise known as Nevs.

Before the reported sale, there has been a disputed discussion about the trade mark Saab Gripen which is part owned by truck maker, Scania. It was earlier discussed that the Saab resources could be sold to the new buyer without the trade mark name and the logo. It was also reported earlier that Nevs was happy to buy the Saab assets without the trade mark and name.

It looked like that changed toward the closing hours of the sales as there emerged interest from the Saab purchasers to include the trade mark in the deal. At first it was reported that Scania and Saab had refused to include the trade mark in the deal. Today according to the press release confirming the sale, it turned out that the trade mark is also included in the sale.

Electric car Consortium, Nevs, announced that it reached an agreement with defense group Saab and truck manufacturer Scania on the use of the Saab brand name.
"We are thrilled that the deal is completed and we can now execute and implement our business plan," says Mattias Bergman, who has been the manager of the purchase of Nevs.
But how the brand name will be used remains an issue to be regulated by the trade mark agreement.

The Electric cars to be produced will be called Saab, however, the new cars produced will not be adorned with the classic Saab Gripen logo. The company that will build the electric cars will not be called Saab but National Electric Vehicle Sweden AB, or Nevs.

The receivers also said that that the agreement includes intellectual property rights for the Saab 9-3 and the Phoenix platform.

What amount Nevs paid for the purchase of Saab Automobile and two subsidiaries, Saab Tools and Saab Powetrain were not disclosed. The price tag on Saab Automobile will likely not be known until the bankruptcy trustees submit their report to Vänersborg court in November.

Nevs also announced today that they expect to be able to launch their first car in about a year and a half, that is, during the first half of 2014. It is based on technology from Saab 9-3 and a newly developed electric drive technology.

The car that will be built in Trollhättan, which will be called Saab is not yet determined.
"The development of our first electric car has been ongoing long time in China and Japan and, in that we now own the facility here, we will continue development on site in Trollhattan," writes Nevs CEO Kai Johan Jiang in a statement.
by Scancomark.com Team