Indian giant Mahindra & Mahindra is reportedly looking to secure a stake in Saab, as the Swedish carmaker’s future once again hangs in the balance.
According to tech magazine Ny Teknik, Mahindra is looking to become a part-owner of Saab; a report that was also picked up by India’s Economic Times.
Mahindra could reportedly partner with current owner National Electric Vehicle Sweden (NEVS), who initially revived the brand last year.
But last month NEVS revealed that a deal with a key Chinese investor had fallen through, halting production in its Swedish plant while NEVS dealt with ‘short term cash problems’.
A large-scale investment or part-ownership from a carmaker the likes of Mahindra would likely be welcomed by NEVS, with a view to kick-starting production once again and installing some consumer confidence in the Saab brand.
A stake in Saab would reportedly sit well with Mahindra’s future plans, as the Indian carmaker is believed to be keen to establish or acquire a luxury brand.
Mahindra is also keen to offer electric vehicles to its customers, and the convenience of ‘borrowing’ the technology destined for the re-born Saab 9-3 would be another enticement.
Failing any bid to acquire a stake in Saab, Mahindra is also believed to be considering a redesign of its SsangYong brand for the luxury market, but for now the Indian carmaker has declined to comment on any future plans with Saab.
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