Investors from India, Turkey could still save Saab

Investors from India and Turkey have emerged as the latest potential saviours of bankrupt Swedish car maker Saab.
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India’s largest SUV manufacturer Mahindra & Mahindra is reportedly interested in purchasing parts – and potentially all – of Saab Automobile. Bloomberg says the Mumbai-based company is attempting to set up meetings with Saab’s court-appointed receivers, Hans Bergqvist and Anne-Marie Pouteaux.

The most recent statement issued by the receivers gives optimism that the embattled Swedish brand – which has not built a car in more than nine months – could emerge from bankruptcy.

“The contacts made so far have been positive and provide real hope that there may be alternatives, and even combinations of solutions that could result in some continued activity and a suitable development of the bankruptcy estate,” the receivers said.

Mahindra has so far declined to comment on its interest in Saab and whether it is pursuing the company with the receivers. The Indian manufacturer, which markets the Pik-Up ute in Australia, rescued SsangYong from bankruptcy in 2009, and has also recently purchased a small Indian sedan manufacturer and the electric car maker Reva.

The Turkish Government is also reportedly involved in a bid to buy Saab. Bloomberg quoted one source, who said the government wanted the country to have a manufacturer of its own and was helping a local car maker in its attempts to acquire parts of Saab.

Saab Automobile filed for bankruptcy on December 19 after a agonising but eventually unsuccessful bid to secure funding to pay its workers, suppliers and continue building cars.