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Updated: 2:40 PM Dec 1, 2008
Sweden talks to US carmakers about Saab, Volvo
Stockholm, Sweden The Swedish government confirms talks with General Motors and Ford after a report that the automakers are seeking support for struggling Saab and Volvo.
Posted: 2:40 PM Dec 1, 2008Reporter: The Associated Press |
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The Swedish government confirms talks with General Motors and Ford after a report that the automakers are seeking support for struggling Saab and Volvo.
A government spokeswoman says the European Union's tough competition regulations restrain the options for the government should it wish to support the Swedish-based car industry.
Ford, GM and Chrysler are lobbying the U.S. Congress for financial assistance as the companies are being squeezed by falling sales amid the world economic crisis.
A Saab union representative doubts U.S. lawmakers would be willing to support the companies' international operations.
Volvo says it will cut some 6,000 jobs worldwide. More than half of those jobs are in Sweden.
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