If you’re asking who owns Saab car company, you’ve come to the right place. After a complex history, the Saab car company name and assets are now owned by the Chinese-Swedish investment group National Electric Vehicle Sweden (NEVS). This answer, however, is just the starting point of a fascinating story of innovation, bankruptcy, and rebirth.
This article will guide you through the complete ownership timeline. We’ll cover Saab’s origins as an aircraft maker, its glory days under General Motors, and the turbulent years that followed. You’ll get a clear picture of the current owner and what the future might hold for this iconic brand.
Who Owns Saab Car Company
As of today, the primary owner of the Saab automobile assets is National Electric Vehicle Sweden, or NEVS. It’s crucial to understand that NEVS owns the Saab car company’s physical assets, certain trademarks, and the technical know-how. However, they do not own the rights to the Saab name for cars, which creates a unique and complicated situation.
NEVS is a investment entity with its main ownership rooted in China. Its major stakeholder is the Chinese renewable energy giant, State Grid. This ownership structure points directly towards a future focused on electric vehicles, which we will explore in detail later.
The Foundational Years: SAAB AB And Automobile Beginnings
The story doesn’t begin with cars. Saab, which stands for Svenska Aeroplan Aktiebolaget (Swedish Aeroplane Company Limited), was founded in 1937 to build aircraft for the Swedish air force. After World War II, the company diversified. Using its aerospace engineering expertise, Saab decided to build a car.
The first prototype, the Saab 92.001, was unveiled in 1947. It featured a streamlined, aerodynamic body inspired by aircraft design—a principle that would define Saab cars for decades. This innovative spirit was present from the very start.
- 1949: The Saab 92 enters full production.
- Key Innovation: Front-wheel drive, a rarity at the time, for better traction in Swedish winters.
- Brand Identity: Safety and turbocharging became core brand pillars later on.
The General Motors Era: Global Expansion And Challenges
For many, this is the era they most associate with Saab. In 1989, General Motors purchased a 50% stake in Saab Automobile. By 2000, GM had acquired full 100% ownership. The goal was to integrate Saab into its global portfolio as a premium European brand alongside the likes of Opel.
Under GM, Saab models shared more platforms and components with other GM vehicles. While this provided economies of scale, many enthusiasts felt it diluted Saab’s unique engineering character. Models like the 9-3 and 9-5 found success but struggled to achieve the sales volumes GM desired.
Highlights and Low Points of GM Ownership
The GM period was a mix of innovation and frustration. On one hand, Saab continued to introduce unique features like the “Night Panel” that darkened all but essential gauges. On the other hand, proposed models, like a sporty SUV, were often canceled by GM management.
Financially, Saab was consistently unprofitable for GM. The 2008 global financial crisis was the final straw. As GM itself faced bankruptcy and a massive government bailout, it put Saab under strategic review, effectively putting the brand up for sale.
The Spyker Interlude: A Brief And Tumultuous Independence
In 2010, a surprising savior emerged: Spyker Cars N.V., a small Dutch manufacturer of high-end sports cars. Spyker purchased Saab from GM for a sum of around $400 million. The deal included promises from GM to continue supplying powertrains and platforms.
Victor Muller, Spyker’s CEO, was passionate about reviving Saab’s independence. However, the company was saddled with massive debt and an outdated model lineup. Spyker’s ambitious plans, including launching new models like the PhoeniX concept-based vehicles, quickly ran into financial reality.
- 2010: Spyker completes the purchase in February.
- 2011: Production halts multiple times due to unpaid supplier bills.
- Key Issue: Spyker could not secure the long-term funding needed for new model development.
- December 2011: Saab Automobile files for bankruptcy after a failed deal with Chinese investors.
Bankruptcy And Asset Division
The bankruptcy in 2011 was a sad day for the automotive world. The receivers began the process of selling off Saab’s assets to pay creditors. This led to the fragmentation of what was once a cohesive car company. Different parts of Saab were sold to different entities.
- Saab AB (the original aerospace parent): They reclaimed the rights to the griffin logo and the Saab name for defense and aerospace.
- Scania AB (the truck maker): They retained their separate rights to the Saab name in certain contexts.
- The Bankrupt Estate: This entity held the factory in Trollhättan, the production tools, the 9-3 platform, and the Phoenix architecture.
It was this bankrupt estate’s assets that were purchased in 2012, leading to the creation of the current owner.
The Rise Of NEVS: A New Electric-Focused Owner
In June 2012, a consortium called National Electric Vehicle Sweden (NEVS) was formed specifically to acquire the main assets of Saab. The purchase was finalized in August 2012. NEVS was a joint venture with its primary funding coming from Chinese sources, notably companies linked to the city of Qingdao.
NEVS’s mission was clear from the start: to build electric vehicles. They restarted limited production of the old Saab 9-3 in 2013, but as a gasoline-powered car, it was a stopgap measure. Their true aim was to develop a new generation of EVs based on Saab’s unfinished Phoenix platform.
NEVS Ownership and Strategic Pivots
NEVS’s journey has been marked by shifting strategies and ownership changes. Early plans to build EVs for the Chinese market were ambitious. However, they faced significant hurdles, including the lack of rights to use the Saab name on cars, which complicated branding and marketing.
A major turning point came when Evergrande Group, a massive Chinese property developer, became the major shareholder in NEVS in 2019. Evergrande’s own well-publicized financial troubles later cast a shadow over NEVS’s future. Today, the main backer is State Grid, the Chinese state-owned electric utility company, emphasizing the continued focus on electrification.
What Does NEVS Own (And Not Own) Today?
This is the most common point of confusion. NEVS’s ownership is specific and does not include the entire Saab legacy.
NEVS Owns:
- The Trollhättan factory and production facilities.
- The intellectual property for the Saab 9-3 platform and the Phoenix architecture.
- Certain Saab Automobile trademarks (but not the core “Saab” name for cars).
- A license to use the “Saab” name for vehicles in China only, which has reportedly expired or is inactive.
NEVS Does Not Own:
- The rights to use the “Saab” name on cars globally. This is still owned by Saab AB (the defense company).
- The griffin logo, which is also owned by Saab AB.
- Any rights to older Saab models like the 900 or pre-GM 9-5.
The Current Status And Future Of The Saab Brand
As of now, NEVS is largely inactive in terms of vehicle production. The company has pivoted to focus on being a research and development partner and a contract manufacturer for other electric vehicle startups. The dream of a new “Saab” EV under the NEVS banner has faded.
However, the Saab name itself has found a new, unexpected home. In 2023, it was announced that the startup electric vehicle company Polestar—itself originally a performance brand of Volvo—had acquired the naming rights from Saab AB. This means Polestar now has the legal right to use the Saab name on future cars, should they choose to do so. This development adds another fascinating layer to the ongoing story.
Frequently Asked Questions
Here are answers to some common questions about Saab’s ownership.
Does China Own Saab?
Yes, in terms of the major industrial assets of the former car company. The primary owner, NEVS, is a Swedish-registered company but is majority-owned by Chinese interests, mainly the State Grid corporation. So, the operational ownership is effectively Chinese.
Why Did Saab Go Out of Business?
Saab failed primarily due to chronic financial losses. Under GM, it never achieved profitable scale. Its unique engineering was expensive, and its model lineup was too narrow. The 2008 crisis and GM’s bankruptcy removed its support structure. Spyker’s subsequent ownership lacked the capital to fund a turnaround, leading to final bankruptcy in 2011.
Will Saab Cars Ever Come Back?
It is highly unlikely that Saab cars will return in their original, independent form. The assets are now part of NEVS, which is focused on EV tech and contract work. The Saab name for cars is owned by Polestar, who may use it for a future model, but it would be a Polestar product, not a revival of the classic Saab company we knew.
Who Owns the Saab Name Now?
The ownership is split. For defense and aerospace, the name and logo are owned by Saab AB. For automobiles, the right to use the name was recently purchased by the electric performance car company Polestar from Saab AB. NEVS does not have the global rights to use “Saab” on cars.
Conclusion: A Legacy Of Innovation In New Hands
So, who owns Saab car company? The physical and technical legacy is held by NEVS, a Chinese-Swedish EV-focused entity. The valuable name itself now resides with Polestar. The story of Saab is a testament to how challenging the automotive industry can be, even for a brand beloved by its fans.
While new Saab-badged cars are not on the horizon, the company’s influence lives on. Its emphasis on safety, turbocharging, and aerodynamic design paved the way for many modern vehicles. For owners of classic Saabs, the community remains vibrant, keeping the spirit of the brand alive on roads around the world. The ownership tale may be complex, but the legacy is enduring.