SAAB's Ghost Comes Back To Haunt Once Again As NEVS Goes Into “Hibernation Mode” | Carscoops carscoops
activated a “hibernation plan” as part of an effort to reduce costs and avoid bankruptcy. The company said that while they see opportunities for the future, their challenges are “unfortunately not temporary.” . When the cuts go into effect, the company will be down to approximately 20 employees.
Interim NEVS CEO Nina Selander said it was with “great sadness” the company was going into “hibernation mode, meaning we will be forced to reduce all costs and suffer from layoffs in all company areas.” The executive, who took the top job just two days earlier, added: “Our decision comes after our owners, Evergrande, and our investor prospects were unable to finalize negotiations accordingly to our contract.
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