The Saab saga continues as National Electric Vehicle Sweden (NEVS) has revealed they do not have enough "liquid cash, as [of] today, to pay all outstanding debt."

The Saab saga continues as National Electric Vehicle Sweden (NEVS) has revealed they do not have enough "liquid cash, as [of] today, to pay all outstanding debt."

Despite this rather ominous statement, NEVS says they are "not insolvent" and their assets are larger than their debts. The company went on to say discussions with "two major vehicle manufacturers" have progressed in a "positive direction" but nothing has been finalized as of as yet.

NEVS declined to go into specifics but they have previously "signed a frame agreement with a major international automotive OEM regarding the cooperation in product development of the future [Phoenix] platform." At the time, the company also revealed they are negotiating with another automotive OEM for partial ownership of the platform.

The recent bankruptcy petition by Labo Test has also been withdrawn following reassurances from the company.

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