Tata Motors is not looking to acquire Saab

Article by Christian A., on January 5, 2012

Tata Motors Ltd. has no plans to acquire car brands, such as bankrupt Swedish carmaker Saab, Chairman Ratan Tata disclosed during a media briefing on Thursday. He admitted that the company did not sufficiently follow up on the launch of the cheapest vehicle in the world -- the Nano. He explained that he didn't think that they were "adequately ready" with an advertising campaign, a dealer network. Sales for Nano have not lived up to expectations.

Bloomberg previously reported in December that Mahindra & Mahindra Ltd., which is the largest SUV manufacturer in India, is interested in purchasing at least parts of Saab.

Earlier this year, Mahindra acquired 70 percent of SsangYong Motor Co. for around $368 million in an effort to benefit from the Korea-based company's international sales network and technology.

Bloomberg had also reported that at least one Turkish company is interested in investing in Saab. The government of Turkey wants to have a vehicle brand of its own. It is assisting a manufacturer to acquire at least parts of Saab. [source: Autonews]

Topics: tata motors, saab

If you liked the article, share on:

Pin It

Comments

Recommended

South Korean car company SsangYong recently revealed sketches of their upcoming SUV. We’re not always impressed by Korean car designs, but this one looks quite promising. Yup, it is the...
by - March 26, 2017
Twenty-eight years after the company was first launched by Toyota, which was initially targeted to the United States market only, Lexus has already made its way to over 70 countries....
by - March 26, 2017
Last year was probably Porsche’s best year ever in terms of sales. Their factory in Stuttgart delivered 237,778 cars in total, which represents a six percent increase compared to the...
by - March 26, 2017
Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries