Saab's Chinese Owner Halts EV Production

Newswire

STOCKHOLM, May 20 (Reuters) - China's National Electric Vehicle Sweden (NEVS) has temporarily halted output of its Saab car due to a shortage of funds, it said on Tuesday. NEVS, which last year resumed low-volume production of the car after it bought the bankrupt iconic Swedish marque, said it currently did not have enough cash to pay outstanding debt. "The reason is that NEVS' part-owner Qingbo Investment Co. Ltd has not fulfilled its commitment to, when necessary, finance ...

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