This is Indian company speculated to be interested in the bankrupt Saab automobileTuesday, 03 January 2012
Mahindra & Mahindra is the Indian vehicle manufacturer which, according to Bloomberg news is speculated to be interested in the bankrupt Saab Automobile.
AdvertisementThe company is an Indian giant group which has also previously shown interest getting their hands on the troubled car manufacturer’s technology according to media reports.
Mahindra is based in Mumbai and began as a steel trading company 1945. Today the business has grown to 144,000 employees and is involved in everything from defence to financial services.
The company has a turnover of 260 billion rupees, equivalent to about Skr34 billion, mainly from vehicles and agricultural machinery. The company is the largest in the country on tractors production and has nearly two-thirds of the Indian market for SUVs, writes Swedish business daily Dagens Industri.
At the beginning of last year, the Group acquired Ssangyong Motors, a Korean manufacturer that went bankrupt in the 2009. This made Mahindra to strengthen its position globally and get over Korean technology.
Mahindra has also bought an electric car company and bought out Renault from the joint venture which was formed to develop and build cars, writes Dagens Industri.
It target now is to strengthen in position the European market wit a brand that is already well known – Saab cars.
By Scancomark.se Team
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