Production at Saab's Trollhattan plant in Sweden still shut down due to problems with suppliers.
Saab better get its assembly lines back up and running again soon, otherwise we're going to run out of clever puns to describe its production woes.
Production at Saab's Trollhattan plant was shut down for most of April and May due to a lack of operating capital and nervous suppliers who withheld deliveries. When cash was secured through a deal with Chinese investors, the Swedish automaker made plans to get things back online. But there are still issues with Saab's short-term financing and suppliers are not yet providing parts properly to serve production.
"There will be no normal production during weeks 25 and 26 (June 20th-July 3rd). We are still negotiating with all suppliers and we need to get everyone on board at the same time. The weeks of 27-29 (July 4th-24th) are planned to be normal working weeks," said Saab spokeswoman Gunilla Gustavs.
In order to secure more short-term cash, Saab is looking at a deal with Swedish property company Hemfosa to sell the Trollhattan plant and lease it back from them.
Saab owner Swedish Automobile, previously known as Spyker Cars, secured a deal with Chinese car maker Zhejiang Youngman Lotus Automobile Co and Pangda Automobile, a car distributor in China, for an investment which sees a controlling interest going to the two Chinese investors. But the deal is still awaiting approval from authorities in China and Europe.