Breaking news: Saab struggling to pay staff salaries

Saab has announced that it is struggling to pay the salaries of its 3800 employees, despite a recent cash injection from Chinese automakers

Saab badge

Saab has lurched into another crisis with the news that the Swedish carmaker is struggling to pay the salaries of its 3800 employees.

The news comes despite the fact Saab has recently announced a €245m deal with two Chinese automotive groups to produce and distribute cars in China. The news caused the company’s already low shareprice to drop by 17 percent yesterday.

Subscribe to evo magazine

Subscribe today to have every issue of evo delivered straight to you. You'll SAVE 39% on the shop price, and get evo for its original cover price for a whole year!

Production in the Trollhattan plant has suffered severe disruption in recent months after suppliers withheld parts. According to the Saab website, the company’s management told workers on Monday that they will have to wait until at least July 4th to return to work.

Saab has said that it is in negotiations with various parties in order to secure short-term funding but an official statement admits that ‘there can be no assurances that these discussions will be successful or that the necessary funding will be obtained.’

Most Popular

205mph Brabus Rocket 900 revealed – a Mercedes-AMG GT 63 S turned to 888bhp
Mercedes

205mph Brabus Rocket 900 revealed – a Mercedes-AMG GT 63 S turned to 888bhp

The Brabus Rocket is back for 2020, and this time it takes the form of a Mercedes-AMG GT 63 S with extras
23 Oct 2020
BMW M3 CSL v Nissan R34 Skyline GT-R v TVR Sagaris v 981 Porsche Cayman GT4
Features

BMW M3 CSL v Nissan R34 Skyline GT-R v TVR Sagaris v 981 Porsche Cayman GT4

The BMW M3 CSL, Nissan R34 Skyline GT-R, TVR Sagaris and original Porsche Cayman GT4 are all shining examples of the sports car breed. But what is the…
24 Oct 2020
Is this a new Porsche 911 Safari?
Porsche 911 coupe

Is this a new Porsche 911 Safari?

Tall ride height and wheelarch extensions suggest a surprise 911 derivative could be coming
22 Oct 2020
KTM X-Bow GTX racer revealed with 532bhp five-cylinder engine
KTM X-BOW

KTM X-Bow GTX racer revealed with 532bhp five-cylinder engine

Following a glimpse of the GT2 derivative, KTM has now uncovered its X-Bow GTX racer in full 
22 Oct 2020