We all knew that the Saab deal was done, in principle, but all of the final details were still being hammered out. A big sticking point was the fact that Saab’s new owner, NEVS, wanted the rights to use the “Saab” name, but needed approval from Saab AB.
As expected, that is now all in the past, as NEVS and Saab AB have reached an agreement to allow NEVS licensed usage of the famed name. However, NEVS was not able to procure a license to use the half-lion, half-bird Griffin emblem that Saab was also famous for. This means all new Saab vehicles will either have a new emblem or just a decal that reads “Saab.”
A strange development in this that has almost fallen through the cracks is the fact that NEVS has also secured the intellectual property rights to the aborted Phoenix platform. The odd thing about that is that Youngman just entered a deal with Spyker to manufacture a car based on the Phoenix platform, which Youngman purchased the license to use back when Saab first went under. This means that there may be two cars running around in China bearing almost identical styles, but different names and completely different drivetrains. Strange...
What would be even more odd in this dysfunctional triangle would be if NEVS contracts Spyker and Youngman to manufacture the Phoenix to attempt to save a little production cost. That’s highly unlikely of a situation, as NEVS also secured all of Saab’s tools and its extremely high-tech Trollhattan plant and testing labs.
Get your popcorn ready for this one, we smell a lawsuit coming up at some point...
We seriously lost count of how many times Youngman was blocked while trying to purchase Saab before it was finally awarded to a lower, but more “suitable” bidder. Finally, after numerous swings and misses, Youngman has found a suitable partner in its automobile-manufacturing venture. Ironically, it is with the company he was originally blocked from buying Saab from, Spyker .
Spyker and Youngman have just inked a framework deal that assigns 29.9 percent of Spyker’s stock to Youngman. In turn, Youngman will pay €10,000,000. Of the initial investment, €6.7 million will be used to pay for the 29.9 percent ownership, while the remaining €3.3 million will act as a shareholder loan. The entire deal should be completed within 45 days of the signing of the deal, as that is the time frame that Youngman has to pay the deal in full.
In this deal, the two companies will form a joint venture called Spyker P2P B.V. (Spyker P2P) Youngman will contribute an additional €25 million to this venture and take 75 percent share hold in it. Spyker’s 25 percent share hold comes in the form of technological contributions. Spyker P2P will use this technology to develop the Spyker D8 Peking-to-Paris super sports utility vehicle (SSUV). The $250,000 SSUV is set to launch in 2014 and Spyker P2P B.V. will use its technology to help launch additional models.
A second joint venture, dubbed the Spyker Phoenix , will see Youngman contribute the Phoenix platform technology that he bought from Saab and fund 100 percent of the venture. This will net Youngman an 80 percent share hold on the Phoenix and give Spyker 20 percent — we assume this share is for Spyker manufacturing the car.
This is certainly a great big mess of numbers, but essentially, Youngman is giving Spyker a ton of money and Spyker is providing its technology on one vehicle and, we assume, the manufacture of the other vehicle to gain minority share in said vehicles.
We’ll keep a close eye on this one and let you know if it actually ever pans out or simply fizzles away.
Click past the jump to read the full press release.
The Geneva Motor Show is one of the biggest shows of the year and the 2011 event certainly did not disappoint. With over 70 cars lined up and ready to take our breaths away, choosing our favorites between them all was not an easy task.
Sure, there were some easy choices, like the brand spanking new Lamborghini Aventador or the Jaguar XKR-S , or brilliant tuning projects like the ABT R8 GT S . Then there was the job of tossing out the not-so-brilliant vehicles like theMitsubishi Global Small or the rather useless Rinspeed Bamboo . The 2011 Geneva Motor Show brought out cars from one side of the spectrum to the other, and rifling through them took some time. Some may not agree with our choices and that’s okay. However, everyone can appreciate a beautiful or highly efficient car when they see one, and we’ve gathered some exceptional specimens to share.
Hit the jump to check out our choices for the Best of the 2011 Geneva Motor Show.
Now that the 2011 Geneva Motor Show has come and gone, it goes without saying that the event was arguably the biggest and most successful auto show since the 2009 IAAs in Frankfurt, Germany.
Some might contend that, but as far as we’re concerned, its been a while since we had an auto show that has been as widely attended by almost all automakers in the world quite like what we saw in Geneva.
And while we may have been introduced to a lot of the cars that were launched in Geneva beforehand, there were still some models, mostly of the concept variety, that took us by surprise.
Most of these models weren’t previewed before the event so when the Geneva Motor Show opened its doors, just about everybody in attendance and those keeping tabs over the Web didn’t see these cars coming.
But now that they’re here, we can take a look at the models that made the 2011 Geneva Motor Show that much more interesting.
Back in 2006, Saab brought out the Aero-X , a concept considered a piece of art at that time. Now, five years later, Saab has one-upped that concept with the launch of the new Phoenix Concept at the Geneva Motor Show. This concept previews the design language of the next generation of Saab cars.
For those of you who are unfamiliar with the Saab history, you should know that the "Ursaab" name says a lot. It was Saab’s first model to be launched on the market and the Phoenix takes its inspiration from it as a play on the rising of the Phoenix. We’re thinking that if the future of Saab looks anything like this, then they will truly rise from the ashes, just like the Phoenix bird did.
"The PhoeniX establishes a new reference point for the future of Saab product design," says Jason Castriota, Saab Automobile’s Executive Design Director. "It symbolizes a renaissance of the innovative spirit and passion that drove Saab to build its first car. We’re now taking the visual DNA forward with what we call ‘aeromotional’ design, adding emotion, power and fluidity. This design aesthetic will shape and differentiate future models in the Saab portfolio."
Hit the jump to read more about the Saab PhoeniX concept.