Spyker Cars NV, the Dutch parent of Saab, said the Swedish automaker's financial situation is worsening and warned that Saab's future is at risk without additional financing.
In its annual report released Friday, Spyker said the company's "continuity" could become uncertain unless it secures extra funds to finance ongoing operations and the execution of its business plan.
Earlier this week, Saab had to shut down production for short intervals after key suppliers halted parts deliveries for non-payment.
Spyker said it had negative cash flow in 2010, mainly due to operating losses at the Saab Automobile and the Spyker Automotive businesses, as well as from its capital expenditure program for new Saab models and the re-activation of Saab's production and sales and marketing operations after Spyker bought Saab from General Motors Co. in February 2010.
"Although this was anticipated in the business plan the actual cash need was higher than planned," Spyker said in the report.