NEVS suspends Saab production on cash shortage
The idling will begin tomorrow (22 May) for four weeks according to NEVS spokesperson.
The resumption of production of the Saab brand has been temporarily suspended due to a funding issue, reports Reuters. Saab's owner National Electric Vehicles Sweden (NEVS) said that it was forced to halt production because it did not have access to enough cash to pay an outstanding debt. It added, "The reason is that NEVS' part-owner, Qingbo Investment Co., has not fulfilled its commitment to, when necessary, finance NEVS' activity." It added that it "is therefore making a temporary and controlled halt of production, which hitherto has been six cars per day, and is reducing agency staff."
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