Spyker Cars to Become Swedish Automobile NV After Sportscar Sale
Spyker Cars NV will adopt the name Swedish Automobile NV following the sale of its sportscar division and ongoing uncertainty over the Saab brand rights.
Spyker Cars NV, the Dutch company that owns Saab Automobile, is changing its name to Swedish Automobile NV after selling its sportscar division to the British coachbuilder CPP. The rebranding follows a year of major restructuring for the firm, which has shifted its focus away from its historic Spyker supercar business.
The decision to drop the Spyker name comes after the company sold its sportscar operations to CPP earlier in 2011. With no direct involvement in the Spyker sportscar brand, the Dutch parent company has opted for a new identity that reflects its remaining core business: the Swedish marque Saab. However, the company does not have full, unrestricted rights to the Saab name, as Saab AB and Saab Technologies retain control over its broader use.
Focus shifts to Saab and China plans
After the sale of its sportscar arm, Swedish Automobile NV’s main asset is now Saab Automobile. The company has faced ongoing financial and operational challenges, with Saab’s future repeatedly called into question over the past year. In an attempt to secure new markets and funding, Swedish Automobile has pursued a joint venture with Pang Da, one of China’s largest car dealership groups, and a Chinese vehicle manufacturer. The aim is to begin car production in China within two years, though this plan is subject to regulatory approval and the outcome of Saab’s financial restructuring.
The initial agreement with Pang Da saw the Chinese partner pay €30 million for around 1,300 Saab vehicles, with a further €15 million purchase possible. This was intended to provide a short-term cash injection for Saab’s operations and support its entry into the Chinese market. The deal also included plans for joint manufacturing, but at the time of the announcement, the long-term prospects remained uncertain due to the need for both Chinese and European regulatory approvals.
Brand and ownership complications
The renaming to Swedish Automobile NV reflects the company’s shift away from its Dutch supercar roots and its focus on managing Saab. However, the rights to use the Saab name remain complicated. The company must continue to coordinate with Saab AB and Saab Technologies for any broader use of the brand, which could affect future ventures and branding decisions. At the time, it was not clear whether the company would ever gain full independence in using the Saab name for new products or markets.
The changes leave Swedish Automobile NV as a holding company with a single, embattled asset. The future for both the company and Saab depends on the success of its Chinese joint ventures, the resolution of brand rights, and the ability to stabilise Saab’s finances. Subsequent developments would see further complications, including the eventual bankruptcy of Saab, but at the time of the renaming, the company was still pursuing new partnerships and markets.
