May 21, 2014
Unable to pay certain bills, Saab 9-3 production gets Trollhälted
After restarting production last year, it seems the other automaker from Sweden is still experiencing some financial woes.
National Electric Vehicle Sweden (NEVS) is pointing the finger at one of its shareholders, Qingbo Investment Co. Ltd., stating the shareholder failed to fulfil a contractual obligation to finance production.
While NEVS may have a Swedish name, the company is mainly funded by National Modern Energy Holdings Ltd. (NME) from China.
NME is confident long-term financing for the operation will be found, securing production in Sweden while also allowing the company to expand battery manufacturing operations in China.
Since restarting production of the 9-3, the Trollhättan assembly plant was building six units per day at its peak.
[Source: WSJ via AutoGuide]