Saab's New Owner Has To Stop Production Over Money Problems

Don't check your calendar, this isn't 2011. Or 2009 for that matter. It's 2014 and the latest group trying to put the people of Sweden back to making Saabs has run into a financial roadblock.


NEVS issued a statement Tuesday that they've put the brakes on production at the Trollhattan plant because shareholder Qingbo Investment Co. was unable to line up financing for its share of the deal. The other partner, National Modern Energy Holdings, has already pumped in about $455 million to restart production.

The Saab lines just started in December turning out 9-3 sedans that look like they did in 2011, but an electric version was supposed to be out soon. And the first cars they built just started getting delivered last month.

The Wall Street Journal also reported today NEVS has signed a deal with two automotive companies over joint development and possible ownership deals.


I'm rooting for NEVS to get their problems sorted out quickly, but this is all just starting to sound too familiar. I'll be on eBay looking at Sonett IIIs for sale.


Photo: Saab/NEVS

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