Saab has inked a deal with an electric car-making consortium of Hong Kong and Japanese investors. The purchase of Saab would save the bankrupt Swedish brand from insolvency.
Saab CEO Victor Muller personally handed in the bankruptcy application to a court in southwestern Sweden, ending his two-year effort to revive the carmaker that over more than six decades has become known for its rounded sedans and quirky design features.
Saab bankruptcy rejected by Swedish court, saying its financial plan for solvency unclear. Automaker's unions may file bankruptcy petition for Saab.
The struggling Swedish automaker doesn't have enough cash to pay its 3,800 factory workers this month.