Saab’s parent decides to let go workers while searching for investors image

The Swedish automaker’s saga continues with a new chapter – China’s National Electric Vehicle Sweden (NEVS), now the owner of the brand, has decided to fire up to 200 people working at the maker’s factory in Sweden.

Following GM’s decision to give up on the brand, the fate of the historic Saab automaker has been a constant soap opera – it finally settled last year and restarted production of the 9-3 model under the guidance of the new owner.

The NEVS parent had big plans for the Swedish maker – after it restarted production of the traditional version of the 9-3 sedan, the producer would move on to implement an electric drive version. That zero emission model would have been sold in China as well, as the country’s legislators fight to spur demand for such vehicles.

“The ongoing discussions on collaboration and ownership structure, which have not yet resulted in a binding agreement, indicate that the decision for a start-up of production will take time,” NEVS said in a statement.

Now, with the plant idled since May because of its inability to repay suppliers, NEVS is on the lookout for additional cash. In the mean time, last month the carmaker secured creditor protection, so at least for the time being the brand is not going bankrupt…again.

Via Reuters