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Ratan Tata denies reports of acquisition of Swedish auto cos Saab

Tata Motors' Chairman Ratan Tata has denied reports that claim that this Indian car maker has placed a bid to acquire the bankrupt Swedish auto company Saab. It is Mahindra that has placed a bid for the acquisition and not Tata, Ratan Tata, reportedly said in reply to a question asked by journalists at the ongoing Geneva Motor Show. Ratan Tata was there to unveil the Tata Megapixel car. On the other hand, Mahindra however has failed to verify that it has placed the acquisition bid for Saab cars. Besides the small city car, Tata JLR unveiled two products Jaguar XF sportback and Land Rover Range Rover Evoque at the Show.   

Lately, there were rumors that Tata has also placed a $350 million bid to acquire troubled Saab cars. But Tata has denied from any such move. Commenting on the future acquisitions planned by Tata, Ratan Tata has told reporters that a lot of feasibility factors are to be considered before any acquisition or the media itself will curse them for wrong acquisition. Tata will be focusing on proceeding further with the acquisition of JLR cars. Notably, Tata had acquired the JLR from Ford for $2.30 million.   

Thus Tata has denied any plans for further acquisitions and instead will be building the existing brands Jaguar and Land Rover. However, Tata has indicated acquisitions for the sake of empowerment of technical prowess of the company. Meanwhile the unveiling of the concept car Megapixel remained a centre of attraction as it is claimed to deliver 100 kmpl mileage. The battery powered car is also easy to park and has a turning radius of only 2.8 m. It is at the concept stage and will take another three years to come to shape and hit production. A similar car Tata Pixel was unveiled by Tata at the last year Geneva Motor Show and the Megapixel is a much improved version of the same.