Today SVD ran an article basically stating that Mahindra already backed out of the negotiations with Saab last November. Just a day after the reconstruction was prolonged this again looks like bad news but even though I regard Jonas Fröberg as one of the better informed authors when it comes to Saab some of the statements in the article make me wonder.
The theory that the article builds up is based on a source that seems to be from among the consultants that work(ed) in the reconstruction process. One key statement is that while Saab AB wanted to get fees for the right to use their brand name Mahindra had expected to get it for free. This is said to have ended the discussions because Mahindra (and their business plan) was not prepared for that. It is hard to believe that and I doubt that Mahindra would be that blue eyed. Nothing in the business world is for free and the right to use a brand name ususally costs serious money.
The other rather strange statement is that Mahindra only signed the non-binding agreement with NEVS to help them enter reconstruction and avoid instant bankrupcy. Again, I find it very hard, if not even harder, to believe that. What should drive Mahindra to sign a paper like that when not intending to act accordingly. It might even put them in danger of legal actions since this was one main reason the reconstruction was granted.
When SvD contacted Mikael Östlund he declined to comment on rumors but stated clearly that “negotiations with two automotive manufacturers are ongoing”. Saab AB did not want to comment on the article either.
I’m afraid we will have to wait and see (again) until more info sheds more light on this. But still, with this being the second article from SvD that attacks the credibility of NEVS and others in the process I feel like using a loose quote: something smells in the state of Sweden…