By on December 2, 2014

1280px-Saab_9-5_2.0_TiD_Vector_(II)_–_Frontansicht_(1),_13._März_2011,_Wuppertal

Ever wondered what Indian curry and Swedish meatballs tasted like together? You will soon enough, thanks to a new deal between National Electric Vehicle Sweden and Mahindra.

SaabsUnited reports Mahindra & Mahindra purchased a majority stake in NEVS in an agreement that keeps Mahindra’s identity secret until the agreement is made final.

Though NEVS’ administrator Lars Eric Gustafsson wouldn’t confirm Mahindra as the party purchasing the stake, he said the deal would finance operating costs — to the tune of €5 million ($6.2 million USD) per month until the agreement is finalized, which is expected to occur February of 2015. Gustafsson added that NEVS was in talks with another Asian manufacturer about the possibility of a joint venture.

Meanwhile, the company is still undergoing reorganization, granted by the Vänersborg District Court in Vänersborg, Sweden late August of this year. NEVS petitioned for an three-month extension Monday.

As for the Saab name, NEVS plans to renegotiate the brand agreement with owner SAAB AB once its finances are more stable. The company lost the name after filing for creditor protection.

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35 Comments on “Mahindra Buys Majority Stake In NEVS...”


  • avatar
    psarhjinian

    Braaaaaaaaaains!

  • avatar
    STRATOS

    Even the Chinese see no value at all in Saab. The Indian tractor company gets to see what they can extract out of it.

  • avatar
    Fred

    What’s the value of SAAB? The name I unserstand, but surely not that old GM based car. Do they have a modern factory that can be used?

    • 0 avatar
      stuki

      There’s some IP. And (at least the remains of) a talented and knowledgeable workforce. With decades experience building cars for bombing around Swedish logging roads, which happen to be in fairly similar condition to Indian highways, at rally speeds.

      Scandinavia might be too remote and small to play host to a full featured auto industry anymore, but there’s still enough of an auto culture to support keeping more specialized operations there. It is also a fairly easy place to convince expats to spend some time in, despite the less than forgiving climate. And. despite their reputation, once you reach the ranks of the more specialized, educated and highly paid, Scandinavians aren’t even that expensive anymore.

    • 0 avatar
      heavy handle

      “surely not that old GM based car”

      Why not, GM is certainly using those old Saab-based cars: SRX, XTS, Regal. They also use Saab’s turbo 2.0 on many platforms.

      The Saab factory is up-to-date, or was 2 years ago.

      Mahindra is a big company. We’ve only seen their farm equipment in the US, but they sell a lot of cars and SUVs in India, China and Korea (SsangYong). One could speculate that they need Saab’s expertise to develop platforms that appeal to Western tastes (not to mention safety and emissions laws).

      It’s easy to dismiss them, but Hyundai seemed like a long shot 20 years ago, and Tata’s made a winner out of Jaguar/Land Rover.

      • 0 avatar
        wmba

        And still the myths and old wives’ tales survive all evidence to the contrary.

        ” They also use Saab’s turbo 2.0t on many platforms.”

        And which GM 2.0t would that be? Being as there’s only one, with different block castings for transverse and RWD, and it is about 3 generations distant from any possible Saab influence, if there ever was any. This isn’t 1993. And GM”s engine is aluminum block and direct injection.

        The tendrils of the multiple zombie resurrections of Saab spread over the world, blotting reason and a quick look at GM’s engine wikipedia page. Of course 47 guys working in the Saab engine group made a world-beating engine from Triumph scraps, while Opel and GM engineers took a 25 year coffee break and just kept shoving some old Saab growler in their cars instead.

        Makes a great story after the fourth beer.

        And now Mahindra fell for the silliness too. Tata, they certainly are not.

        • 0 avatar
          heavy handle

          You may want to update your sources. Saab used the aluminum block 2.0 in the 9-3 and later 9-5 (pictured above). They developed this engine which is structurally quite different from the related non-turbo GM inline 4s of similar displacement.

          The iron-block engine that you are thinking about was last used in 2002 on the 9-3 and 2008 on the 9-5.

          I guess that technically the 2.0 was developed by “General Motors Powertrain Sweden” but, given that they were housed in the same building as the rest of Saab’s R&D, it really is just a technicality.

          As for what happens next, who knows? There’s a long history of arrogant westerners underestimating new players. Doesn’t matter if it’s Hyundai, Toyota, Nissan, Tata, Geely, Dongfeng or Fiat, there’s always someone “in the know” confidently predicting their quick and definitive demise. Seems too early to tell, as far as I’m concerned.

      • 0 avatar
        CoreyDL

        SsangYong does NOT make good -cars-, and they are not generally desirable in SK. The only decent things they make are SUVs based on things other people have made, with engines from other people. And one sedan based on a Mercedes.

  • avatar
    PrincipalDan

    The NeverEnding (Saab) Story

    How about a joint venture with Volvo? Two old GM/Ford Divisions forced into an arranged marriage by the Chinese. I’d love to hear the moral of that story.

  • avatar
    SCE to AUX

    Amazing how such big companies can make such dumb moves.

  • avatar
    Richard Chen

    So this means we might get diesel pickups branded SAAB?

  • avatar
    Rod Panhard

    I like the point that they’re keeping it secret. And now we’re reading about it on the inter webs. But hey, $6million for a factory in Sweden and the IP contained within? Maybe Mahindra wants a factory in Sweden where they can do some R&D in a climate that’s different than what’s available in India, and has a major city located in it.

  • avatar

    Currywurst is delicious. So this has potential, right?

    • 0 avatar
      bunkie

      “wurst” is German not Swedish. The equivalent Swedish word is “postej” pronounced post-TEY.

      • 0 avatar
        CRConrad

        Nope, that’s Danish for (soft, spreadable) sausages of the Liverwurst/(American)”Braunschweiger” kind. Paté in French, pastej in Swedish (at least in the compund “leverpastej”).

        The Swedish for “sausage” (in general) is “korv”.

        HTH!

    • 0 avatar
      bunkie

      BTW, my dad (who was a prominent Scandinavian chef) made a wonderful curry which, for some reason, he named “Jackson Sauce”. I never did get the chance to ask why…

  • avatar
    schmitt trigger

    VW has had a plant in Puebla, Mexico, for 5 decades.

    Sauerkraut with Enchiladas, anyone?

  • avatar
    Chocolatedeath

    I loved the way that 9 5 drove and the interior. Just wish I could afford to own and keep one up for about 10 years.

  • avatar
    Jasper2

    I am convinced (and happily by the way) that the SAAB brand is immortal.
    I am still driving my 2006 AERO and it is solid as rock with 150K plus miles. Still feels like new.

    • 0 avatar
      CoreyDL

      That’s because you’ve already replaced everything once.

      heheh

      • 0 avatar
        PolestarBlueCobalt

        Hows that Nissan errr Infiniti treating ya?

        You’re just going off of (completely wrong) stereotypes.

        • 0 avatar
          28-Cars-Later

          In fairness its a JDM Nissan (Fuga) and those stereotypes were somewhat true on the millennium period used Saabs on or about about year five or six. However your overall point on being cool and not reinforcing unfounded stereotypes is taken and for the record the world would be a better place with a resurrected SAAB motor car company.

    • 0 avatar
      PolestarBlueCobalt

      I really hope they pull a Tata/Jaguar here. the world isn’t the same without Saab. The latest 9-5 is beautiful.

      • 0 avatar
        CoreyDL

        Also for the record, I have no problem with Saab existing – assuming they are a) not just rebodied GM vehicles (like the 9-7x and that Subaru one, and the 9-4x), and b) they are actually reliable. You just have to be -so- careful about which Saab you buy to make sure you get a decent one.

        Though not reliable, the 9000 (initial and restyled) is one of the best looking sedans of the past 30 years.

        The last 9-5 is indeed beautiful, and I love the styling. However, the reliability is bottom of barrel awful.

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