CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Production restarts at Saab plant

Article By: ,  Financial Analyst

Saab has confirmed production has restarted production at its plant in western Sweden.

The company, which went bankrupt two years ago and was later bought out by National Electric Vehicle Sweden (Nevs), has resumed production of the 9-3 sedan model.

Although an electric version of the car has been planned, Saab is originally restarting a petrol-powered version of the vehicle.

Mikael Oestlund, a spokesman for Nevs, told the AFP news agency: "It's very similar, you can't change or develop very much in a year. We acquired the assets in August last year."

Mr Oestlund added that the aim is to get production of the model "up and running" and restart working with its 400 different suppliers.

Saab will initially keep production volumes of the 9-3 sedan model "low", Mr Oestlund said, adding that the manufacturer aims "to increase over time according to the market's demand".

According to Saab, there are over 180,000 of its vehicles in daily use in the UK, with the company hailing the "clean Scandinavian design, reliability and exceptional value for money" provided by the models it makes.

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