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.

Tuesday, March 6, 2012

Also Indian Tata bids for Saab

According to Indian newspaper The Indian Express, India's largest vehicle manufacturer Tata Motors has placed a bid of around $350 million (SEK 2.3 billion) on the Saab bankruptcy estate.

Tata is of course the owner of the English brands Jaguar and Land Rover (JLR) and has enjoyed much success with its earlier acquisition of foreign car brands.

The Indian Express reports that it is understood that Tata's global acquisition team has been in negotiations with the Saab bankruptcy administrators and private equity players for a prospective acquisition.

When contacted, Tata would not comment on the information:

"We do not comment on speculation," a Tata spokesperson said.

Tata will however have to compete with at least two other bidder, and one of the bidders should be well known to Tata. Last week it was reported that Tata competitior in Indian, vehicle manufacturer Mahindra & Mahindra, had placed a bid on Saab. In addition also Chinese Zhejiang Youngman Lotus Automobile has confirmed placing a bid.