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Is India’s Mahindra About To Purchase A Stake In Saab?

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There seems to be no end to Saab’s woes, even with new owner NEVS running the show. A month ago, NEVS said a cash shortage had forced it to stop production of the Saab 9-3 sedan and that it was in negotiations with other firms over the potential sale of a stake in Saab to help raise funds.

According to Just-Auto, one of the firms NEVS is in negotiations with may be India’s Mahindra, which had previously sought to acquire some of Saab’s assets during the Swedish firm’s bankruptcy days a few years back.   

Following the success rival Indian automaker Tata has enjoyed with Jaguar Land Rover, Mahindra likely sees Saab as a quick avenue to gaining control of a premium brand. Mahindra is also focused on the electric car market and has even joined the Formula E Championship, so working with NEVS, which plans to build battery-powered Saabs, fits in with Mahindra’s goals.

"We have still these on-going dialogues, but we have no further discussions or closures as of today," a NEVS spokesman said when asked about the negotiations. "I can't name the partners we are in discussions with, not today."

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