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Saab Automobile Plans to Cut Workforce 36%
China's National Electric Vehicle Sweden AB says it will lay off as many as 200 of its 550 employees as it struggles to relaunch production at its Saab factory in Sweden.
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China's National Electric Vehicle Sweden AB says it will lay off as many as 200 of its 550 employees as it struggles to relaunch production at its Saab factory in Sweden.
The company suspended low-volume production at the plant in May. In August it arranged protection from creditors as it scrambled to find funding to resume operations. The company had retained a permanent workforce to enable it to resume production quickly.
NEVS says it is in talks with two unnamed potential majority owners, but it has no binding agreement with either. A decision to resume operations, it concedes, "will take time."
The company had been producing piston-powered versions of the Saab 9-3 sedan. But its aim is to introduce an electric model based on the brand's next-generation Phoenix platform. The company revealed a prototype of the EV last month.
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