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Has Saab run out of money?

Swedish brand Saab Automobile has temporarily halted production while it seeks new funds.

A statement from parent company Spyker Cars said that Saab Automobile is continuing to work on its short and medium term funding.

It has requested additional short and medium term funding from the Swedish National Debt Office (NDO) - money which had been previously allocated.

With suppliers awaiting payment, the additional money is required to restart production.

Saab's business plan for 2011 includes launches of the new 9-4X crossover and the all-new 9-5 SportCombi.

The outcome of discussions with the NDO is still not certain, and Spyker says it expects a decision before Thursday 14 April 2011.

Saab should be able to resume normal production within a week of receiving funds.

Posted on 12.04.2011
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