Mahindra To Saab's Rescue?

We've heard Saab, that had declared bankruptcy a while back, is facing some problems yet again. The company's brand owner, National Electric Vehicle Sweden (NEVS) - a Swedish company under Chinese ownership, was recently granted more time to secure funding and stall forced bankruptcy proceedings. The company is believed to owe at least $57 million to various suppliers.

However, the grapevine is rife with news that NEVS is in negotiations with two major OEM manufacturers, both located in Asia. The negotiations have intensified considerably in the past few weeks and we believe that one of the OEM's that is eagerly looking for a majority stake is Mahindra and Mahindra.

Mahindra has been at the forefront of electric vehicle technology in India and has already introduced hybrid technology, not to forget the all-electric car - the e2O. Who knows Mahindra just might turn out to be the oxygen that Saab needs to survive. We will know more about the deal soon.