Is Saab Cars Still in Business?

Saab, a Swedish automobile manufacturer, has a storied history dating back to its founding in 1945. Known for its innovative designs and commitment to safety, Saab has garnered a loyal following over the decades. However, the company has faced numerous financial challenges and ownership changes, leading to uncertainty about its current status in the automotive industry.

Is Saab Cars still in business? Saab Cars is no longer in business. The company declared bankruptcy in 2011 after struggling with financial difficulties for several years. Following the bankruptcy, the brand’s assets were acquired by National Electric Vehicle Sweden (NEVS) in 2012. NEVS initially aimed to revive the Saab brand by producing electric vehicles, but this effort was short-lived. In 2014, NEVS lost the rights to use the Saab name, effectively ending the production of Saab-branded cars.

History of Saab’s Financial Struggles

Saab’s financial troubles began long before its eventual bankruptcy. The company was originally part of the Saab-Scania group, but in 1990, General Motors (GM) acquired a 50% stake in Saab Automobile. GM later took full ownership in 2000. Despite efforts to rejuvenate the brand, Saab continued to face financial losses. In 2010, GM sold Saab to Spyker Cars, a Dutch automobile manufacturer. Unfortunately, Spyker was unable to turn the company around, leading to Saab’s bankruptcy in December 2011.

NEVS and the Attempted Revival

After acquiring Saab’s assets, NEVS aimed to transform the brand into a leader in electric vehicle production. They planned to produce electric versions of the Saab 9-3 sedan. However, financial difficulties and legal issues hindered their progress. By 2014, NEVS had lost the rights to use the Saab name, and production ceased. Although NEVS continues to develop electric vehicles, they no longer carry the Saab brand.

Saab’s legacy lives on through its dedicated fan base and the numerous classic models still on the road today. Despite its challenges, the brand remains a significant part of automotive history, known for its unique designs and commitment to safety.

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