National Electric Vehicle Sweden (NEVS) has announced plans to lay off up to 200 employees working at SAAB's Trollhattan factory at home in Sweden.

National Electric Vehicle Sweden (NEVS) has announced plans to lay off up to 200 employees working at SAAB's Trollhattan factory at home in Sweden.

SAAB's glory days are long forgotten as the company is currently struggling to keep afloat but it's now facing even more problems as parent company NEVS has announced a drastic restructuring plan. Production was stopped back in May due to lack of funds and now as much as 200 employees (out of a total of 550) will be laid off since there aren't any cars to build.

This decision is part of a plan that will be presented by the firm's administrator on October 8 during a creditors' meeting. NEVS previously announced they are negotiating with two automakers to obtain more money necessary to resume production of the 9-3 of which an electric variant is being developed.