Saab Halts Production As NEVS Deals With ‘Short Term Cash Problem’

The production lines at Saab have ground to a halt once again, with new owner National Electric Vehicle Sweden (NEVS) facing what it has described as a “short term cash problem”.

NEVS said this week that a key investor in the re-born Swedish car brand, Qingbo Investment Co. Ltd, is yet to fulfil its contractual obligation to finance the operations.

As a result, National Modern Energy Holdings Ltd (NME, NEVS’ main owner) has decided to become the sole financier of the Saab project.