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Saab Back In ICU

The Detroit Bureau, Thursday, June 23, 2011 10 AM

Even though Saab had lined up two Chinese companies, one of them a dealership network, to fund operations, the ventilator is back in at the Trollhattan, Sweden, company. The automaker missed a payday for its 3,800 workers. On Monday, officials met with workers at the Trollhattan plant and told them not to come back to work until July 4.

The plant had been down since early June. "Time is a luxury they no longer have," said one analyst. The company is trying to finalize the partnership with Pang Da, the largest Chinese auto dealership network and Zhejiang Youngman Lotus Automobile Co., a Chinese automaker. David Sullivan of AutoPacific says the problem is red tape. "They have to go through all these European bureaucracies to get approval. The red tape may take longer than Saab has left."

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