Mahindra & Mahindra To Acquire Stakes In Saab

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India's largest manufacturer and seller of utility vehicles, Mahindra & Mahindra has launched several new products in India. They have launched their new generation Scorpio and have also been working on new products to enter other segments.

Mahindra automobile has been trying for a while to acquire an international brand. They were earlier in the run to acquire Aston Martin. Now the Indian manufacturer has made its intention clear of acquiring Swedish automobile manufacturer Saab.

Along with Mahindra there is also a Chinese automobile manufacturer looking to acquire stakes in Saab. Dongfeng has showed interest in the Swedish manufacturer for a while now. The Indian manufacturer on the other hand has been looking at options from 2012 itself.

Currently Saab is owned by National Electric Vehicle Sweden, which is owned by National Modern Energy Holdings from Chinese-Japanese energy company. Saab Automobile Powertrain and Saab Automobile Tools had declared bankruptcy and were picked up by NEVS.

The Indian manufacturer currently has stakes in Peugeot and Ssangyong. Mahindra has strategically purchased stakes to benefit them in the near future. The French manufacturer's two-wheeler segment has been acquired and they are a major stake holder.

The inclusion of Swedish automobile manufacturer would certainly help Mahindra jump forward. They could skip the development phase for a product by using Saab's know-how, which is a pivotal aspect for the manufacturer.

Mahindra so far has not confirmed any details regarding their acquisition of Saab. Expect an official announcement by the Indian manufacturer soon. It would be great news if Saab does indeed become part of Mahindra & Mahindra.

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Story first published: Thursday, December 11, 2014, 10:31 [IST]
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