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New Saab owner facing bankruptcy petition

A supplier is petitioning a Swedish court to declare the company bankrupt after it failed to pay $22,000 bill.

August 13, 2014   by The Canadian Press

STOCKHOLM, Sweden — The company that lifted Swedish automaker Saab out of bankruptcy is now facing financial difficulties of its own.

A supplier has petitioned a Swedish court to declare National Electric Vehicle of Sweden (Nevs) bankrupt.

Labo Test, which supplies test equipment for car parts, said Nevs had failed to pay bills of $22,000 since February.

Nevs spokesman Mikael Ostlund didn’t immediately answer a request for comment.

The company, owned by a Hong Kong-based group, bought Saab out of bankruptcy last year after a failed attempt to revive the brand by Spyker Cars of the Netherlands.

Though its plan was to make electric cars, Nevs started off with gasoline-fuelled models to get production going immediately.

© 2014 The Canadian Press


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