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SAAB Can’t Afford To Pay Its Employees

2011 SAAB 9-4X

We keep hearing bad news from SAAB for a few weeks and the latest one concerns the company’s inability to pay its employees. Swedish Automobile (formerly known as Spyker Cars), who is the owner of SAAB revealed this week that they don’t have enough money to pay the workers. As you probably already know, the Swedish automaker is having discussions with various companies in order to grab the necessary funding to keep the company alive.

Last week, on June 13th, SAAB said something about a 218 million pounds investment. This sum of money is expected to come from a Chinese manufacturing firm by the name of Youngman, who will be investing 121 million pounds, in exchange for a 29.9% stake in the company. The rest of the cash will come from Pang Da, yet another Chinese company, who will be investing 97 million pounds for a 24% stake in the Swedish automaker.

We hope that SAAB will find a solution to these financial problems once and for all.

Source: SAAB via WhatCar


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