Welcome Back to the Market, Saab

posted on Jan 09 2014 by Jade Hensby

Welcome Back to the Market, Saab

Saab have announced that they will restart production as of 2014 as the firm's new owners aim to get the car maker back on track once more.

In December 2011 Saab was declared bankrupt, but was bought by a Chinese-Swedish investment group- National Electric Vehicle Sweden (NEVS) last year. The car maker will now restart production of its 9-3 sedan models at the Trollhattan factory in western Sweden.

The firm will initially make petrol powered versions of the car with the aim of later launching an electric version. A spokesman from NEVS stated that “It’s very similar, you can’t change or develop very much in a year. We acquired the assets in August last year...our focus has been to get the co-operation up and running with 400 suppliers and ensure the facilities were working”.

Over the past few years, Saab has seen mixed fortunes. The US car makers General Motors (GM) bought a 50% stake and management control of the firm in 1989, and gained full ownership in 2000. During 2006 car sales peaked at 133,000, however sales then dwindled as it fell to 93,000 in 2008.

To make matters worse, GM itself sought bankruptcy protection as the global financial crisis unfolded and forced the US Company to dispose of assets.

Speaking of the process, Saab said “we are humble and say we’ll start the production volume with low figures and be able to increase over time according to the market’s demand”. Fingers crossed for Saab the second time around.