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Saab New Owner Close To Bankruptcy : News

Saab's new owner, National Electric Vehicle Sweden, is reportedly facing potential bankruptcy proceedings in Swedish court.

Test equipment supplier Labo Test has filed a petition asking the court to declare Nevs bankrupt, accusing the startup of failing to pay an outstanding debt of approximately 150,000 kronor (~$21,800 USD), according to an AP report.

The fledgling automaker, owned by a Hong Kong-based energy company, earlier this year announced that 9-3 production had been halted due to a "short term cash problem." The company blamed the issue on one of its minor stakeholders, Qingbo Investment Co, which has been accused of failing to fund ongoing operations.

The resurrected 9-3 maintained the same overall design as its now-defunct predecessor, but on an all-electric platform with a range of approximately 124 miles.

Recent reports suggest Nevs has been courting several potential investors, including India's Mahindra and China's Dongfeng, that could serve as majority shareholders and help bankroll production.

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Sources : Saab New Owner Photo | Saab New Owner Article


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