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 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.’

Advertisement
Advertisement - Article continues below
Advertisement
Advertisement

Most Popular

Visit/news/21596/ares-panther-progettouno-reborn-de-tomaso-pantera-hits-the-road
News

Ares Panther ProgettoUno – reborn De Tomaso Pantera hits the road

5.2-litre V10 and pop-up headlights for Dany Bahar’s reimagined supercar
9 Jul 2020
Visit/mercedes/amg-gt/201615/2021-mercedes-amg-gt-black-series-revealed-in-new-video
Mercedes AMG GT

2021 Mercedes-AMG GT Black Series revealed in new video

The long-awaited Mercedes-AMG GT Black Series has been shown for the first time in an official video
9 Jul 2020
Visit/lamborghini/202829/tecnomar-launches-4000hp-v12-lamborghini-yacht
Lamborghini

Tecnomar launches 4000hp V12 Lamborghini yacht

The V12-powered yacht is Tecnomar’s most capable offering yet, and takes inspiration from Lamborghini’s most recent models
30 Jun 2020
Visit/porsche/202872/porsche-911-carrera-s-vs-rivals-r8-vantage-570gt-and-evora-face-off
Porsche

Porsche 911 Carrera S vs rivals: R8, Vantage, 570GT and Evora face off

The question is simple. Does the 992-generation 911 Carrera S still have the edge on its core rivals?
11 Jul 2020