Mahindra & Mahindra to buy Sweden automaker SAAB?

If the deal is sealed, will give MM access to advance technologies and of course the trademark license of SAAB!

Mahindra Mahindra is reportedly buying majority stakes in the National Electric Vehicle Sweden (NEVS) AB. NEVS, an investment group, that owns SAAB, a Swedish carmaker. NEVS bought assets of SAAB two years ago from Spyker, a Dutch supercar maker, which indeed brought SAAB from GM!

NEVS is currently under the process of reorganizing the firm, and was earlier scheduled to conclude by November 29th, 2014. But the firm has requested few more months to get it done. According to reports, NEVS is talking to two Asian OEM manufacturers to step-in as the major stakeholder. This said, reportedly Mahindra Mahindra (one of the two OEMs) has already agreed (signed a letter of intent) to buy controlling stakes in the company while final decision is set to be out in February.

Speaking of Mahindra, India’s leading utility manufacturer, already has major stakes in SsangYong Motor Company and own Reva Electric Car Company (Mahindra Reva Electric Vehicles Private Limited). If all goes well, Mahindra Mahindra will add SAAB in its growing list. Furthermore, Mahindra can also utilize SAAB’s manufacturing plants, as the company sell vehicles in Europe.

The production of SAAB 9-3 Aero Sedan was halted at the production facility in May due to fund deficit. NEVS, the current owners of the company had resumed the manufacturing last year only. Let’s see what MM will do if it acquires the company.

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