Mahindra could buy majority stake in SAAB owner NEVS

Mahindra & Mahindra could buy majority stake in National Electric Vehicle Sweden (NEVS) which owns Sweedish carmaker SAAB.

If things go well, Mahindra could gain access to the advanced technologies of SAAB and also gain a trademark license. Mahindra’s plan of global expansion will also sync well with this acquisition.

Mahindra will provide financial support to help the firm continue with its business. The SAAB Phoenix platform will be the first project which will benefit from this investment.

Mahindra does not want to comment on this deal as of now.

Also, there is no likelihood on SAAB cars entering the Indian market.

Source – AutocarPro