Poor Saab, it can't seem to get a break. General Motors couldn't seem to make a go of it, neither could Spyker, and now it seems that its latest owner is encountering some problems of its own.

That owner, of course, is National Electric Vehicle Sweden, a Swedish holding company owned by Chinese investors. NEVS recently restarted production at the Saab plant in Trollhättan, Sweden, and had some ambitious plans for the brand's revival, but it appears to have run out of cash.

This according to a report in The Wall Street Journal, which discovered that NEVS is having trouble paying its suppliers. One such supplier, called Labo Test, has reportedly been owed some $22,000 by NEVS since February, and without payment, petitioned the Swedish government to place NEVS into bankruptcy proceedings. If that seems a little extreme to you over twenty-two grand, it would seem the parties agree, as the petition has reportedly since been withdrawn.

That doesn't mean that NEVS is in the clear, though. In addition to Labo Test, the Swedish Enforcement Agency (which sounds to us more like the office of the inspector-general of massage therapy) has reportedly received more than 90 additional claims against NEVS.

The Journal reports that, saddled with bills it can't pay, NEVS is trying to find a major automaker with which to partner on a joint venture or potential ownership stake in Saab. Given how that went for GM, we're not sure how easy that would be.


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  • 22 Comments
      Stinkyboy
      • 4 Months Ago

      The dude on the right and the women have this "satisfied look" on their faces. the other 3 look as if they just realized what they did.

        Darren McLellan
        • 4 Months Ago
        @Stinkyboy
        I would be willing to satisfy her. No free Sabb required
          Irollengineer
          • 4 Months Ago
          @Darren McLellan

          She is the swedish minister of Industry and trade and does what polititians do best. Clueless and smiling for the camera.

      The Friendly Grizzly
      • 4 Months Ago

      Maybe they need to build cars people actually want to buy. Every make has its fans, but what counts is sales.  I would love a modern-day equivalent of a Volvo 122S, or a 1964 Dodge Dart 270 convertible with the sold-lifter 273 V8 and a four-speed. But, how many others want either one?

      Teleny411
      • 4 Months Ago

      BMW should have bought SAAB.  It would have been an ersatz Bimmer like Mini without damaging BMW's reputation for building RWD Ultimate Driving Machines.

      carguy1701
      • 4 Months Ago

      Let.  Saab.  Die.

      They nearly died by their own hand in the early 90s before GM (foolishly) bought them.

      Lucky Stars
      • 4 Months Ago

      I for one miss saab

      nanz06
      • 4 Months Ago

      I totally disagree.  I was a Proud Owner of Saab back in 2008.  Love it.  Never had any problems like I have had with BMW's and Mercedes.  Please get your act together and bring this car back.....

        Douglas
        • 3 Months Ago
        @nanz06

        nanz06, I agree!.  People make a big whoop about BMW, and Mercedes, but they are not the quality that they protest to be!  They get hooked on the name, and don't know what's under the hood!

      Kody Marion
      • 4 Months Ago

      Just to bring clarity to rumors a few things need to be pointed out. As mentioned the petition which was made in error was withdrawn by the CEO of Labo. Bankruptcy works differently in Sweden compared to here in the U.S. The claims made to the Swedish enforcement agency are a means of protecting themselves if NEVS were to file for bankruptcy in the future before the invoices are paid. NEVS certainly has the assets to cover such small invoices. They are merely trying spread expenditures and idle the company due to a fallout with the Chinese investors. This complication is likely due to interference from the Chinese government which has left their cash flow limited. Mahindra is currently back at the table, looking to make large investments in Saab in the coming months. Lastly many people who followed events closely over the years would make a strong argument about Spyker-era Saab. Victor Muller of Spyker failed not of his own doing, but because GM interfered with efforts from Chinese investors and blocked all deals for fear Saab would compete with them in the emerging Chinese market.




       

      Bernard
      • 4 Months Ago
      Saab's dead, they've been dead for some time now. Next story!
      Revis Goodworth
      • 4 Months Ago

      GM destroyed this company defiling it with disgusting GM mid-sized SUV's and horrific Subarus.    A once proud company was raped by GM.

        Hokiegrad09
        • 4 Months Ago
        @Revis Goodworth

        Your history is a little hazy. Saab sucked before GM bought them. The were failing which is why GM bought them. GM kept them on life support for nearly 2 decades. Saab has never been a great company. 

          Hokiegrad09
          • 4 Months Ago
          @Hokiegrad09

          @hampton


          Buddy companies that are doing great financially don't typically need to be bought in order to survive, which Saab did. Nobody says they didn't have character, my first car was an 87 Saab 9000, but that doesn't mean they were a great company.

          The Friendly Grizzly
          • 4 Months Ago
          @Hokiegrad09

          No, GM bought them because they thought they saw some sort of opportunity. What I don't know. Aside from quirkiness, what, really, did SAAB have to offer?  What am I missing? 

          And, how many of you SAAB fans would actually buy one if you had the opportunity?

          yonomo200
          • 4 Months Ago
          @Hokiegrad09

          @The Friendly Grizzly and Hokiegrad09

          You are the two who got it right. Saab was already failing when GM idiotically bought and invested billions in it for no apparent reason. It is also true that they did nothing to help the brand. But let's dispense with this concept that GM destroyed Saab. What GM did was destroy GM with ludicrous purchases and creating new car companies which they neither needed nor could afford to nurture. What GM should have been doing all those years is investing in their core brands, not trying to be all things to all people, and spreading their resources paper thin, leading to failure and bankruptcy when the big crash of 2008 came along. Stupid, stupid, stupid.

          carguy1701
          • 4 Months Ago
          @Hokiegrad09

          Also, Revis is a moron with a hard-on for hating GM that no one can adequately explain.

          carguy1701
          • 4 Months Ago
          @Hokiegrad09

          Friendly Grizzly, Hokiegrad09, and yonomo200 are correct.  Saab was on life support long before GM ever entered the picture, and all they ended up doing was delaying the execution by 16 years.  I'm not sure what logic was used to justify the purchase in the 90s (my guess is that it was something about how it would add to GM's culture or something of that nature), but looking back, it was a foolish decision on GM's part.

          That said, the factory in Trollhaten might be used to build cars in the future (maybe Tesla could buy it to build units for the European market) but it will never build another Saab, and it shouldn't.  The brand is dead, let it stay dead.

          Hampton
          • 4 Months Ago
          @Hokiegrad09

          GM bought them because they were failing? Really ? What a great reason to buy a company!

          Saab didn't "suck" they had a great identity and appeal as a sport utility sports car which GM did not maintain.They blew it 

      LeighSydneyChina
      • 3 Months Ago

      Getting into bed with Chinese investors is always going to be like this. Ask Volvo.  They just expect everything.  Being government owned enterprises, they have been spoon-fed funding from the bottomless pit of the Chinese banking system.  Now this system is under a lot of pressure.

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