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Saab facing bankruptcy – again

Wed, 13 Aug 2014 00:00:00 -0700

Saab are facing bankruptcy once more.

Saab has not had a happy history, certainly since it was swallowed up by GM and pushed in to building Saabs with GM underpinnings. Then, in the midst of the bankruptcy of GM, Saab went through a circus of possible owners before GM sold Saab out to Spyker, but Spyker couldn’t make a go of things and they too went bankrupt.

Saab was then taken on by National Electric Vehicle Sweden (NEVS) with a view to building electric cars based on the Saab platform, but NEVs appears to have struggled to finance their project and resorted to trying to build conventional ICE Saabs to bring some revenue in, but that seems to have failed too.

Now NEVS are facing bankruptcy after a supplier – LaboTest AB – which supplies Saab with testing equipment petitioned the District Court in Stockholm for NEVS’ bankruptcy over an unpaid bill of just £13,000.

It seems unlikely the whole thing will come to court over such a small amount of money, but it’s equally clear that if suppliers are not being paid the whole NEVS adventure is close to the edge of failure, and Saab could be back in the wilderness once more.

A sad Saab story.


By Cars UK