Mahindra Close To Securing Majority Stake In Saab: Report Photo:
2014_saab_9_3_aero_02 Photo: tmr
2014_saab_9_3_aero_06 Photo: tmr
2014_saab_9_3_aero_01 Photo: tmr
2014 Mahindra Pik-Up Photo:
2014_saab_9_3_aero_05 Photo: tmr
2014_mahindra_pik_up_02 Photo: tmr
2014_saab_9_3_aero_04 Photo: tmr
2014_saab_9_3_aero_03 Photo: tmr
Trevor Collett | Dec, 12 2014 | 3 Comments

Saab has dodged the bankruptcy bullet several times in the last six months, and the Swedish carmaker has always maintained that it was in talks with major carmakers to save its skin.

One of those carmakers is believed to be India’s Mahindra, with the pair consistently linked over recent months with the belief Mahindra is keen to secure a ‘premium’ brand to expand its wares.

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.

2014 Mahindra Pik-Up
2014 Mahindra Pik-Up

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.

This forced NEVS to halt production in May and sack 200 workers in the months that followed, but last week the company revealed it was close to securing a partnership with ‘an Asian carmaker’.

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.

MORE: Mahindra Looks For Majority Stake In Peugeot... Scooters
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