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, March 2, 2012

Indian Mahindra & Mahindra has placed bid on Saab

Local Trollhättan newspaper TTELA reports that Indian Mahindra & Mahindra group is one of the bidders on the bankruptcy estate of Saab Automobile. Also Swedish Radio P4 Väst reports that their sources confirm a bid from Mahindra.

On Tuesday the bankruptcy administrators said that they have received several interesting bids on Saab. Due to this, the administrators expressed optimism about continued operations at Saab in Trollhättan. All bids are however indicative, which means that they are non-binding bids that are negotable.

At the moment it is unclear if the bid from Mahindra is on Saab as an entire entity or only for parts of Saab. But according to the reports, the bid from Mahindra does not depend on continued technology lincenses from General Motors. Mahindra is however interested in acquiring the Saab brand name, and reports indicate that Mahindra has shown interest in continued production of the current Saab 9-3 and of course the planned 9-3 replacement and other future models.