Report: Saab in talks with Turkish government image

Saab is reportedly in talks with the Turkish government as the bankrupt Swedish automaker is looking for an investor to revive it, according to German magazine Auto motor und sport.

The magazine cites sources close to Saab’s management who said that talks were initiated by Victor Muller, the CEO of Saab owner Swedish Automobile, after the Turkish government expressed its interest in the carmaker. However, talks are reportedly still at a very early stage. Saab did not yet comment on the issue. Despite the Auto motor und sport report, Turkey’s industry minister Nihat Ergun said last week that the government was not interested in Saab.

The company was declared bankrupt by a Swedish court last week, after a nine-month survival battle by its Dutch owner. Interest for Saab, which has made cars for 64 years, was mainly from Chinese companies Zhejian Youngman Lotus Automobile and Pang Da Automobile Trade. However, former owner and key licence holder General Motors opposed the Youngman deal, as the U.S. carmaker didn’t want to allow access to its technology to the Chinese companies.

Swedish daily newspaper Dagens Industry reported on Friday that one of India’s biggest carmakers may also be interested in buying parts or all of the company.