Rumour: Mahindra eyeing stake in Saab again

Swedish premium carmaker Saab, currently owned by Hong Kong-based National Electric Vehicle Sweden (NEVS), is in need of funds to keep its operation going and is looking at investors to rescue it from bankruptcy.

Two Asian investors are rumoured to be in the race for a stake in Saab. A report by Ny Teknik, a Swedish technology magazine, one of them is Indian automaker, Mahindra. Ny Teknik says that NEVS is in talks with the Mumbai-based company about a collaboration. If the deal goes through, NEVS and Mahindra will become co-owners of Saab.

The Mumbai-based SUV specialist however, has refused to comment on this development. However, the company has been showing interest in acquiring a premium brand for a while now. In the recent past it has been linked to takeovers of brands like Aston Martin and Saab.

Mahindra currently owns South Korean SUV brand SsangYong, which it bought in 2011. Experts believe that the company would be interested in Saab mainly for its engineering and designing capabilities.

Source: Economic Times