Industry News

Saab is on Life Support, Again

Just when things were looking up.

National Electric Vehicle Sweden (NEVS), the company responsible for producing the Saab 9-3 for the local market in Sweden, has once again halted production of the car due to cash-flow issues. This comes just a few weeks after deceivingly-optimistic reports about the company's future. NEVS says Qingbo Investment has not fulfilled its part of the contractual obligation, and thus, National Modern Energy Holdings Ltd., Saab’s main owner, has been required to carry the majority of the funding burden, which it hasn't been able to handle.

Saab officials say they are still working to raise further investments which will allow them to build the Pheonix architecture, designated to underpin future models. For the time being, there is no estimated date for when production may resume, but we hope to have better news for you soon.

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