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Saab reaches end of the road

Saab reaches end of the road
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The Dutch owner of Saab has filed for bankruptcy, ending a nine-month battle to rescue the struggling Swedish carmaker.

That comes after Saab’s former owner, General Motors, vetoed a rescue plan involving a Chinese investor. GM still licences key technology to Saab and has a small shareholding.

Poor sales meant Saab ran out of money and could not pay suppliers. It has not made any cars since April.

At the company’s factory in the western town of Trollhattan, emotions among some of the workers ran high, even though they have been preparing themselves for the worst.

The company employs about 3,500 people, though officials have said many more would be affected by a closure, including suppliers.

“I feel emptiness and frustration,” Fredrik Amlqvist, a car builder for almost 17 years, told reporters. “I looked out at my two Saabs in the yard this morning. I had tears in my eyes, I have to admit.”