Canadian Manufacturing

Saab saviour Nevs facing financial frustration

National Electric Vehicle of Sweden (Nevs), owned by a Hong Kong-based group, bought Saab out of bankruptcy last year



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

On August 12 a supplier 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 150,000 kronor ($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.

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