Saab owner National Electric Vehicle Sweden (NEVS) facing financial difficulties

Article by Christian A., on August 13, 2014

Things are not working quite well for the National Electric Vehicle of Sweden (NEVS) a.k.a. the company that lifted Saab out of bankruptcy. It appears that the parent company is now facing the same problems as Saab as a Swedish court declared NEVS bankrupt.

The reason is that the company failed to pay Labo Test, which supplies test equipment for car parts. NEVS failed to pay 150,000 kronor or $22,000 since February.

For those who don’t know, NEVS is owned by a group based on Hong Kong and acquired Saab out of bankruptcy after Spyker Cars failed to revive it. Back in May, we announced that Saab production was stopped due to lack of funds at National Electric Vehicle Sweden.

The reason was that the company didn’t have sufficient cash since its part-owner, Qingbo Investment didn’t fulfill its commitment to finance its activities.

Qingbo is the investment agency of the city of Qindao, China and owns a 22% stake in NEVS. Back in 2013, Qingbo ordered 200 Saab electric vehicles based on the 9-3 sedan. [source: TheDetroitNews]

Topics: saab

If you liked the article, share on:

Comments

Recommended

Skoda recently launched the new Karoq compact SUV as a replacement model to its now-defunct Yeti small crossover. Slotted below the newly introduced Skoda Kodiaq, the new Karoq features a...
by - May 23, 2017
There are already rumors suggesting that the next generation BMW 5-Series GT is expected to be joining the 6-Series range. The latest reports instead tell us that that 3-Series GT...
by - May 23, 2017
In 2004, the British marque Rolls-Royce officially entered South Korea with the opening of their showroom located in Seoul before opening their second showroom last September in Busan. Now RR...
by - May 23, 2017
In a game-changing move, Ford has revealed that it will soon produce its first ever all-electric CUV that will be built to be electric from the ground up, and it...
by - May 23, 2017
The wait for the Mustang’s GT-based Super Snake concept to be released is finally over. Shelby had recently collaborated with Ford Performance and Borla to come up with something that...
by - May 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries