Please Tell Us Your City

Knowing your city will help us provide relevant content to you.

Sorry! No matching results found. Try again.Error Identifying Your Location.

Log in to CarWale

Please enter your password
Forgot password?
Please enter your registered email

Or Login with

Sign In with google

Sign up to CarWale

Please enter your name
Please enter your mobile number
Please enter your password
Please enter your password

Could Mahindra be the company to buy a stake in NEVS to save Saab?

December 03, 2014, 04:38 PM IST by Fleme Varkey
Could Mahindra be the company to buy a stake in NEVS to save Saab?

Popular budget UV maker Mahindra had previously made public, its interest in buying Swedish car manufacturer Saab in 2011 when the ailing company had declared bankruptcy. In 2012, it was announced that a newly formed company called National Electric Vehicle Sweden (NEVS) had bought Saab Automobile's bankrupt estate. Now, rumours are that NEVS has a signed letter of intent from an unnamed Asian automaker to take majority ownership of the brand.

In 2012 there were rumours that NEVS was trying to work with Mahindra and Mahindra to develop a petrol-powered 9-3. So could this ‘unnamed Asian automaker’ be the India-based Mahindra? M&M, maker of the utility vehicle range (Scorpio, Xylo and XUV500) and the Verito may be thinking of becoming a part-owner (with the Hong-Kong- based National Electric Vehicle or NEV, its current owner,) as the bankrupt car maker needs funds to maintain operations.

Mahindra & Mahindra has previously also shown interest in acquiring Jaguar Land Rover when Ford put it on sale in 2007 but the company did manage to book Korean SUV maker Ssangyong back in 2010. 

Automotive News Europe cites a SaabsUnited story proclaiming that the suitor is none other than Indian automaker Mahindra and Mahindra. The Swedish automaker is reportedly just waiting for the nitty-gritty to fall into place before making the news official. NEVS also claims that it's still negotiating with a separate, unnamed Asian automaker on a joint venture to co-develop new vehicles.

Assuming the deal goes through, the new owner could regain the rights to the Saab brand, too. According to ANE, negotiations are underway with the Saab AB aerospace business to be able to use the trademark again. NEVS lost that right when it filed for reorganisation.

Analysts, however, seeing Mahindra’s interest in Saab and its previously Aston Martin and Jaguar Land Rover are saying that these are part of Mahindra’s efforts to boost its brand image globally. While this may be partly true, it seems great to see an Indian automaker show such ambition. 



Tags:Scorpio,Mahindra Scorpio,Mahindra,Mahindra-Saab
Show CommentsHide Comments
  • Upcoming Cars


25th Jul 2019

80L - ₹ 1.20Cr
BMW 7 Series FaceliftBMW 7 Series Facelift

25th Jul 2019

1.22Cr - ₹ 1.40Cr
BMW New 3 SeriesBMW New 3 Series

21st Aug 2019

50L - ₹ 60L
Kia SeltosKia Seltos

22nd Aug 2019

14L - ₹ 20L
Hyundai New Grand i10Hyundai New Grand i10

Aug 2019

6L - ₹ 8L
All Upcoming Cars
Ask the experts1800 2090 230Mon-Fri (9 AM - 8 PM)
Sat (9 AM - 5:30 PM)
Sun (9 AM - 7 PM)
Toll free

Select your city to avail offers

Currently available only in