They confirmed it that way news from the autumn of last yearwho predicted this takeover. The consortium paid 305 billion won for a deeply loss-making car company, ie about 5.5 billion crowns.
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At the end of 2020, when it fell under compulsory administration, Ssangyong owed 60 billion won (1.08 billion crowns) and was unable to repay the state loan so as not to jeopardize the company’s operations.
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Nothing improved in 2021, selling less than 85,000 cars globally, according to Reuters; among other things, 21% less than a year earlier. In the period from January to September 2021, it collected a loss of another 238 billion won (4.3 billion crowns).
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Modernized Ssangyong Musso Grand
Photo: Ssangyong
Its current owner, the Indian carmaker Mahindra & Mahindra, has been trying to get rid of it since the beginning of 2021. It is now clear that this has succeeded. It is not yet clear what plans the consortium will have with Ssangyong; electromobility has been talked about before, and Edison Motors is known to have big plans to break into the world of light vehicles.
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Web Carscoops even says it wants to be Apple in the field of electric cars, selling a car named Smart S with 653 horsepower and acceleration to 100 in 2.5 seconds, a smaller machine called Smart E targeted at Mercedes EQE customers and also Smart A as a rival Tesly Model 3.
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Ssangyong Tivoli
Photo: Ssangyong
Ssangyong has been Indian-owned since 2011 and has tried to get on the feet of several new models such as the Musso, Tivoli and Rexton.
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Previously, in 2004-2009, the majority shareholder was the Chinese carmaker SAIC, which, according to Ssangyong employees, stole intellectual property. The owners of Ssangyong used to include Daewoo and Daimler-Benz.
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Take a look at the current offer of new and used cars SsangYong on Sauto.cz. |
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