A new report from The Financial Times suggests that deal is closer than ever, with Mahindra reportedly on the verge of securing a majority stake in Saab’s owner - National Electric Vehicle Sweden (NEVS).
NEVS reportedly revealed this information itself, through documents filed in the Swedish court which previously granted it temporary bankruptcy protection.
Mahindra has previously expressed an interest in acquiring the Saab brand, most notably when the carmaker went bust in 2011 and around the time NEVS moved in.
NEVS relaunched the Saab 9-3 in its existing state and commenced production on a modest scale, before a promised business deal with a Chinese backer fell through.
A deal with Mahindra or any other carmaker would presumably include a chance to wipe NEVS’ debts clean and essentially relaunch the 9-3 for the second time.
Plans beyond that are unclear at this stage, although Mahindra is reportedly keen to back NEVS’ original plan to build an all-electric version of the 9-3 for various markets; including China.
A spokesman for Mahindra declined to comment when contacted by The Financial Times. Stay tuned to TMR for more.
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