Cars in India | Autoportal.com
Select City

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

  • Mahindra M-Plus Mega Service Camp From February 18-26, 2017 20-02-2017 Mayank Mahindra M-Plus Mega Service Camp From February 18-26, 2017
  • Mahindra XUV500 Sportz Limited Edition Launched at Rs. 16.50 Lakhs 06-02-2017 Mayank Mahindra XUV500 Sportz Limited Edition Launched at Rs. 16.50...
  • Mahindra Scorpio Getaway pickup vehicle spotted in Lonavala 31-01-2017 Anurag Busi Mahindra Scorpio Getaway pickup vehicle spotted in Lonavala
  • Mahindra KUV100 Anniversary Edition launched at Rs 6.37 lakh 31-01-2017 Davender Soni Mahindra KUV100 Anniversary Edition launched at Rs 6.37 lakh
  • Current Offers and Discounts on Maruti, Hyundai, Honda, Mahindra, Fiat & Datsun Cars – January 2017 26-01-2017 Davender Soni Current Offers and Discounts on Maruti, Hyundai, Honda, Mahi...
  • Mahindra TUV300 XL Spied, will come with a longer wheelbase 21-01-2017 Anurag Busi Mahindra TUV300 XL Spied, will come with a longer wheelbase


Helpline