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

Tata Motors denies Saab bid

Last night Indian newspaper The Indian Express reported that Tata Motors of Indian had placed a $350 million bid on Saab. Now Tata denies the bid.

"We have not bid for Saab," said Tata Motors' Chairman of the board Ratan Tata to the Wall Street Journal.

Chairman Ratan Tata is currently at the Geneva Motor show where Wall Street Journal asked him about the alleged Tata bid.

"But another Indian company, Mahindra has," Ratan Tata continued.

According to Tata's head of Corporate Communications, Debasis Ray, Tata has not even been at Saab in Trollhättan snooping around. And they are not interested in additional brands.

So it would seem that Indian newspaper The Indian Express has mixed up the two Indian companies when it reported about the bid on Saab.