Saab 9-3 4dr Sedan Aero Low Miles Manual Gasoline 2.0l 4 Cyl Carbon Gray Metalli on 2040-cars

Auto blog

Mahindra eying stake in Saab owner NEVS?

It's ironic that Saab's current vehicle architecture is called the Phoenix platform, because like the mythological bird, the company keeps returning from the ashes. That's right, the embattled Swedish automaker isn't completely dead yet. Again. Actually, it may be facing yet another buyout, and this time, the buyer may be from India.
Less than a month ago, the situation looked ominous for Saab. National Electric Vehicle Sweden, the carmaker's current owner, temporarily shut down 9-3 production at its Trollhättan factory not long after restarting it in the first place. According to Just Auto, it laid off about 100 consultants allegedly linked to problems making June payroll, as well. At the time, Saab claimed that the measures were temporary, and it was negotiating selling part ownership to another automaker.
Those assertions might have some truth behind them, it seems. Indian newspaper The Economic Times reports that Mahindra & Mahindra and an unnamed Asian automaker are negotiating with NEVS to purchase part of the company. It claims that the Indian automaker sees Saab as an opportunity to add a premium brand to its business.

Super sleeper Saab 900 does 174 mph in the standing mile

Somewhere behind Hennessey setting a new top speed record at this year's Texas Mile with its camouflage Ford GT, a stock-looking 1996 Saab 900T pulled up to the line to see what it could do. The dealer showroom wheels wouldn't offer any indication that the 2.0-liter four-cylinder under the hood was getting help from a Garrett turbocharger, a tuned ECU and E85 gas to put out 465 horsepower at the front wheels.
Knowing that, it shouldn't be too much of a surprise that at the other end of the mile the sky blue Swedish wonder was doing 174 miles per hour. The four-cylinder class at the Texas Mile has plenty such rockets, too, this Swede coming just behind a Dodge Neon that did 175.8 mph. You can watch the Saab do its thing in the video below.

NEVS announces 200 layoffs as it says Saab restart will 'take time'

For a fleeting moment a few weeks ago, the news from Saab-owner National Electric Vehicle Sweden appeared almost positive. The company had its reorganization plan approved (a day after it was denied), and the automaker was actually showing a real, running vehicle, albeit one with a top speed of 75 miles per hour. But those tiny crumbs of potential goodness have been swept away because NEVS has announced layoffs of as many as 200 factory employees in September "due to lack of work."
Workers probably shouldn't get too eager to return to the factory either, because company's "decision to re-start production will be further delayed" by an unspecified amount of time, NEVS says in a press release. To begin assembling cars again, the company needs to find long-term funding and a new majority owner. Those seem like two very steep hurdles for the embattled automaker to clear.
Despite not producing cars since May, NEVS still claims it's negotiating with a new owner, possibly Mahindra, but according to Reuters, the Swedish company owes about 400 million kronor ($56 million) to creditors. According to its layoff announcement, getting rid of these workers is one step in the business' reorganization plan to be presented on October 8. Scroll down to read its full release.