Saab on its knees
Swedish Automobile, previously known as Spyker and holding company of Saab, recently announced a large-scale order of 582 units from an undisclosed Chinese auto firm. The resultant cash flow has bought the ailing company some reprieve: Saab is in deep financial crisis, having announced last week that it is unable to honour its staff remuneration requirements and payments to suppliers. The company is in talks with several parties on short-term funding.