Cars in India | Autoportal.com
Select City

Mahindra again in talks to acquire SAAB?

Mahindra again in talks to acquire SAAB?

Snapshot: NEVS AB has declared that they are facing a severe cash issue and looking for some kind of investment.

- Comments    |    Write Comment

SAAB, the Swedish auto brand was in trouble back in 2012, when a financial crunch surrounded them, leaving them with no option, but to seek an investor. It was reported then, that the Indian auto manufacturer Mahindra and Mahindra were among the final bidders in the deal, which was finally taken by a Chinese-Japanese Investment Group called NEVS AB (National Electric Vehicle Sweden).

But it seems like, the game is not yet over for M&M and the NEVS AB has declared that they are facing a severe cash issue and looking for some kind of investment. According to a request filed by them at the District Court of Vanersborg, Sweden, a major investor failed to come up with the amount initially promised and hence they require an extension of three months for the reorganization process.

A statement issued by NEVS states that the company is looking for a new investor in two Asian automakers, the names of them, however, can't be not revealed due to non-disclosure agreement. NEVS also reveals that, while one of the investor is interested in buying a controlling stake, the other one is interested in a joint venture.

Interestingly, according to the Swedish daily Svenska Dagbladet, Mahindra is one of the two Asian OEMs in contention and China’s Dongfeng Motor is the other one. Both the OEM's holds a stake in the Peugeot, as the latter owning a part in the Peugeot-Citroen, while the earlier owning the Peugeot Scooters. For Mahindra, who also owns Ssangyong, buying SAAB would give it access to the Swedish automaker’s R&D resources and technologies.

You can also visit our page to check the portfolio of Mahindra Ssangyong!

Related car news

  • Current Offers and Discounts on Maruti, Renault, Nissan, Mahindra & Ford Cars – April 2017 27-04-2017 Davender Soni Current Offers and Discounts on Maruti, Renault, Nissan, Mah...
  • Mahindra 'Electric Drive' Conducted on World Earth Day 24-04-2017 Mayank Mahindra 'Electric Drive' Conducted on World Earth Day
  • Mahindra KUV100 Achieves Sales Milestone of 50,000 Units 21-04-2017 Mayank Mahindra KUV100 Achieves Sales Milestone of 50,000 Units
  • Mahindra XUV500 W6 with Android Auto Launched at Rs. 13.80 Lakhs 19-04-2017 Mayank Mahindra XUV500 W6 with Android Auto Launched at Rs. 13.80 L...
  • Veejay Ram Nakra is Mahindra's New Senior Vice President of Sales & Marketing 19-04-2017 Mayank Veejay Ram Nakra is Mahindra's New Senior Vice President of...
  • Mahindra launches new Scorpio Adventure Edition for Rs. 13.10 Lakhs 05-04-2017 Anurag Busi Mahindra launches new Scorpio Adventure Edition for Rs. 13.1...


Helpline