IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Friday, December 30, 2011

Mahindra & Mahindra of India interested in Saab

Yesterday we got reports that an Indian company had shown interest in Saab. Speculations have been going high and today Bloomberg reveals that the company is India's largest SUV manufacturer Mahindra & Mahindra Ltd.

Bloomberg refers to two sources familiar with the situation when naming Mahindra. But the company itself would not confirm the interest.

Mahindra spokeswoman, Roma Balwani, declined to make a comment to Bloomberg, while CFO Bharat Doshi said that he was in a meeting and wasn't available to talk.

Pawan Goenka, president automotive of Mahindra & Mahindra , told The Telegraph India, "I would not like to comment on these reports."

According to Bloomberg's sources, Mahindra has so far not held discussions with the court appointed administrators of the Saab bankruptcy, but is in the process of making an appointment.

One of Bloomberg's sources also confirmed that at least one Turkish company is interested in Saab.

So now we have more or less confirmed interest from China, Turkey and India, which all are countries with ambitions to become big players on the global automotive market.

Mahindra & Mahindra Ltd, which is part of the Mahindra Group, has 119,900 employees and is involved in many different industries like automotive, components, defense, energy, farm equipment and aerospace. This is a huge company!