Mahindra & Manindra (M&M) finally wins the battle of acquiring a Korean motor giant Sangyong Motors on 2010-Aug-23. M&M at present is manufacturer of famous SUV models like Scorpio, Bolero etc. With acquisition of Ssangyong Motors M&M is set to increase its dominance in SUV in India and abroad. Ssangyong Motors acquisition will launch M&M as a global SUV player in the worlds market.
Ssangyong Motors is known in Korea and abroad for its SUV range of vehicles like Actyon, Kyron, Rexton-II etc. Ssangyong Motors is a leading producer of reliable Korean SUV’s which is surely going to help M&M to produce world class vehicles form its M&M brand. Due to the global financial crisis of year 2008, Ssangong Motors faced bankruptcy and ultimately decided to sell its stake to M&M.
Its an interesting decision of M&M to keep using the brand name of Sangyong Motors in its Korean market. Even M&M will not dilute the organization structure of Ssangyong Motors in Korea.
M&M is likely use the R&D facilities of Ssangyong Motors to develop green cars running on alternative fuels and even electric vehicles. M&M & Sangyong has global perspective of entering American and Russian markets.
- In 1986 a company named Dong-A Motors was taken over by Ssangyong Business group.
- In 1991 Daimler Benz entered into a technological tie-up with Ssangyong. Partnership with Daimler Benz has given huge technological face-lift to Ssangyong Motors.
- In 1997 Daewoo Motors bought majority stake in Ssangyong only to sell their stake after three years to Chinese motor manufacturer.
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