NEVS-Saab, struggling to resolve serious financial difficulties by attracting new investors, said Wednesday it had shed 155 workers, close to a third of its workforce.
The redundancies fell short of a previously announced figure of up to 200 employees. The company which now employs about 400 people gave no information about the progress in talks with potential new investors, which if successful could lead to a resumption of production.
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Swedish media reports have indicated that Nevs — 78-per cent owned by China’s National Modern Energy Holdings and 22 percent by the Chinese city of Qingdao — has been in negotiations with automakers Mahindra (India) and Dongfeng (China).
