Saab's Newest Owners Face Bankruptcy Petition In Sweden

Cameron Aubernon
by Cameron Aubernon
saab s newest owners face bankruptcy petition in sweden

Saab’s newest parent company may soon be declared bankrupt by a Swedish court, once again bringing the make toward the grave.

The Detroit News reports supplier Labo Test has petitioned the court to declare National Electric Vehicles of Sweden bankrupt after failing to receive kr150,000 ($22,000 USD) since February 2014. The supplier provides testing tools to automakers for quality testing of auto parts.

Sveriges Radio adds that CEO Håkan Bodin has no “hard feelings against NEVS,” and would be joyful to receive money owed from the company’s Chinese owners. NEVS communication officer Mikael Östlund, meanwhile, states that though his employer “cannot fully pay any of its suppliers,” NEVS itself is not insolvent.

The bankruptcy hearing, to be held in district court in Vänersborgs, is scheduled for September 8.

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5 of 21 comments
  • JohnnyFirebird JohnnyFirebird on Aug 13, 2014

    When I had a 2011 Saab 9-5 FWD sedan come in a couple of months ago a wholesaler offered me $7,000 for the car. It had 45,000 kilometers / 30,000 miles. Yikes.

  • Iamwho2k Iamwho2k on Aug 13, 2014

    I wish someone would put a bullet into this story. Die Saab die!

  • Corey Lewis Corey Lewis on Aug 14, 2014

    The other day I saw one of the later, revamped 9000s, with proper aero wheels, in black over tan. I want one EVERY TIME that happens. I think that's one of the best designs of any car between 1980 and 1999.

  • Voyager Voyager on Aug 16, 2014

    Volvo and Saab - tales of two Swedish almost equal siblings having turned a different corner. Whatever you wanna say about the two, Ford left Volvo in a much better shape than GM did with Saab, when the two were sold off. Volvo has laid down the basis for continuous growth and appreciation. Saab never succeeded in finding the proper funding. And that says something; the Chinese love foreign brands.