Saab Concludes Talks With Unions Over Lay Off

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Saab
Saab

The Chinese-backed consortium that owns Saab said Wednesday it had concluded talks with unions over laying off 155 employees over further delays in restarting production.

Saab
Saab

The consortium National Electric Vehicle Sweden (NEVS) said last week that about 200 employees, or a third of the workforce, would need to go as part of an ongoing reorganization of its business.

The Swedish carmaker became insolvent three years ago.

Production at the plant in Trollhattan, south-western Sweden, was halted in May, but NEVS kept on the employees pending the outcome of talks with foreign carmakers.

Details of how those talks are progressing are expected next week when a court-appointed administrator is to present the reorganization plan at a creditors’ meeting.
NEVS has said one of the foreign carmakers is interested in part ownership of the consortium, while another was considering future cooperation.

Hong Kong-based National Modern Energy Holdings is majority owner of NEVS, with a 78-per-cent stake. Qingbo Investment, which owns the rest, was earlier accused of not fulfilling its obligation to finance the operations.

Saab belonged to US car giant General Motors until the beginning of 2010, and was later taken over by Dutch boutique sports car maker Spyker.

Saab filed for bankruptcy in December 2011 although the production lines had fallen silent months earlier. Saab was sold to the Chinese-backed consortium in June 2012.

GNA

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