IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Monday, July 4, 2011

Workers back, but not to build cars

The car builders in Trollhättan are back at work today, but not to build cars. Today they will just receive information from the management and maybe do some odd chores. The car building isn't expected to be back up and running for another one to two weeks. And then the summer vacation is planned for week 30 and 31. In other words, there not much car building expected until well into August. So if you are waiting for your new Saab, then you'll just have to hang in there for a few more weeks!

Today the sale of 50.1 percent of the Saab property company to Hemfose and their partners are expected to be finalized. Swedish media has reported that the deal was signed on Friday and the National Debt Office and the Government will hopefully give their approval today. This sale will be an important step towards restarting production.

With the property sale Saab has secured around EUR 66 million, which will hopefully be enough for Saab to reach agreements with the suppliers to restart deliveries. From last week we also know that Saab is working on securing even more fund.

I am sure this will be another week filled with Saab news, so stay tuned!