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National Electric Vehicle stops Saab 9-3 production amidst financing woes

It seems that quirky, Swedish automaker Saab might be on life support yet again. Its owner, National Electric Vehicle Sweden, has announced that it's reducing its workforce and temporarily halting production of the 9-3 due to financial problems. NEVS was only building six cars a day, anyway.
The company put out a press release admitting its economic woes, but it still appeared hopeful. NEVS claims it's developing "a new platform on the Phoenix architecture," and it has a frame agreement with an international automotive OEM. It didn't give any specific details about either one of these assertions though. According to The Wall Street Journal, NEVS needs the partnership to lower development costs in order to stay afloat. Saab spokesperson Mikael Ostlund told Autoblog in an email that the stop in production of the 9-3 in Trollhättan would last four weeks.
NEVS says it's in negotiation to sell a portion of the company to an automotive company. Its current monetary woes are caused by shareholder Qingbo Investment Company not financing the company as agreed. "We plan to have the results of the discussions at latest during June," said Ostlund.

Saab restarts production line in Trollh"attan

The new owner of Saab, National Electric Vehicle Sweden, has bolted together its first two new cars at the company's traditional home in Trollhättan. The two 9-3 sedans were built to work bugs out of the production line and test newer components before full-scale production starts near the end of the year.
NEVS acting President, Mattias Bergman, issued a statement saying, "Prior to our decision to start production of Saab cars, we need to finalize a few remaining dialogues to build partnerships with suppliers. We now know that the plant is ready for production." First up for NEVS will be gas-powered, turbocharged 9-3s, before bringing a facelifted, electrified variant later next year. There are also plans to rejigger Saab's never-was Phoenix architecture for production, although NEVS needs to excise the remaining General Motors tech from the platform before building anything.
According to a report on Automotive News Europe, once under way, NEVS has set an optimistic target of 120,000 units per year by 2016, with sales focused in Europe and China - there's no official word on if NEVS ever plans to bring the Saab name back to North America.

GM recalls 500K Chevy Camaros for ignition-switch defect

General Motors issued a recall for more than a half million Chevrolet Camaros on Friday morning because of an ignition-switch safety hazard that mirrors the one at the center of the company's current crisis.
The problem affects Camaro models from the 2010 to 2014 model years. Approximately 464,712 cars are impacted in the United States, and 511,528 overall in North America. GM will alter the Camaro key to a more standard design, and will notify car owners with a recall notice in the mail.
In an announcement, the company said the ignition switches on the Camaros are fundamentally different parts than the older ignition switches found on defective cars that are responsible for killing at least 13 people and causing 54 crashes.