KG Mobility: Difference between revisions

SsangYong further benefited from this alliance, long after [[Daimler-Benz]] stopped selling the Musso, producing a badge engineered version of the [[Mercedes-Benz MB100]], the [[SsangYong Istana|Istana]] and using Daimler designs in many other models, including the second-generation [[SsangYong Korando#Second generation|Korando]] (engine and transmission), the [[SsangYong Rexton|Rexton]] (transmission),<ref>{{cite web|url=http://www.drive.com.au/Editorial/ArticleDetail.aspx?ArticleID=8117&vf=1 |title=Old-fashioned values |author=Jonathan Hawley |publisher=[[Fairfax Media]] |date=2004-07-04 |accessdate=2011-03-21}}</ref> the [[SsangYong Chairman#Chairman H (1997–2011)|Chairman H]] (chassis and transmission)<ref>{{cite web|url=http://www.drive.com.au/Editorial/ArticleDetail.aspx?ArticleID=9590&vf=1 |title=SsangYong Chairman CM600S |author=Bruce Newton |publisher=[[Fairfax Media]] |date=2005-05-10 |accessdate=2011-03-21}}</ref> and the [[SsangYong Kyron|Kyron]] (transmission).<ref>{{cite web|url=http://www.drive.com.au/Editorial/ArticleDetail.aspx?ArticleID=12193&vf=1 |title=SsangYong Kyron |author=Bruce Newton |publisher=[[Fairfax Media]] |date=2006-05-31 |accessdate=2011-03-21}}</ref>

 

In 1997, [[Daewoo|Daewoo Motors]], now [[Tata Daewoo]], bought a controlling stake from the SsangYong Group, only to sell it off again in 2000, because the [[Chaebol|conglomerate]] ran into deep financial troubles. In late 2004, the Chinese automobile manufacturer [[Shanghai Automotive Industry Corporation|SAIC]] took a 51% stake of SsangYong Motor Company.

 

In April 2010, the company released a statement citing interest of three to four local and foreign companies in acquiring SsangYong Motor Company, resulting in shares rising by 15%.<ref>{{cite news| url=https://www.wsj.com/articles/SB10001424052702303720604575170692597890662 | work=The Wall Street Journal | title=Asia Follows Wall Street Lower | first=Myra P. | last=Saefong | date=2010-04-08}}</ref> The companies were later revealed to be [[Mahindra & Mahindra]], Ruia Group, SM Aluminum, Seoul Investments and French-owned [[Renault Samsung Motors]] of South Korea.<ref>{{cite web |url=http://www.indiancarsbikes.in/auto-news/mahindra-buy-korean-ssangyong-motor-company-11167/ |archive-url=https://web.archive.org/web/20100522015242/http://www.indiancarsbikes.in/auto-news/mahindra-buy-korean-ssangyong-motor-company-11167/ |dead-url=yes |archive-date=2010-05-22 |title=End of speculation: Mahindra enters the fray for ailing Ssangyong Motor &#124; Indian Cars & Motorcycles Blog |publisher=Indiancarsbikes.in |date=2010-05-17 |accessdate=2011-02-25 }}</ref><ref>{{cite web|url=http://www.iii.co.uk/news/?type=afxnews&articleid=7916589&action=article |title=Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor |publisher=Iii.co.uk |date= |accessdate=2011-02-25}}</ref> In August 2010, Mahindra & Mahindra Limited was chosen as the preferred bidder for SsangYong.<ref>{{cite web|url=http://sify.com/finance/mahindra-chosen-preferred-bidder-for-ssangyong-motors-news-default-kimq4caaahf.html |title=Mahindra chosen preferred bidder for Ssangyong Motors |publisher=Sify.com |date=2010-08-12 |accessdate=2011-02-25}}</ref> The acquisition was completed in February 2011<ref name=toi-mmss/><ref>{{cite news|url=https://www.wsj.com/articles/BT-CO-20100825-709193 |work=The Wall Street Journal |title=UPDATE: Mahindra Aims To Complete Ssangyong Acquisition In Four Months |date=2010-08-25 }}{{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}}</ref> and cost Mahindra 522.5 billion.<ref>{{cite web|title=Mahindra reportedly inks deal to buy Ssangyong for $463M|url=http://www.autoblog.com/2010/11/23/mahindra-reportedly-inks-deal-to-buy-ssangyong-for-463m/|publisher=Autoblog|accessdate=23 November 2010|date=23 November 2010}}</ref>

 

After the company taken over by Mahindra, SsangYong licenced to its parent Mahindra the [[SsangYong Tivoli|Tivoli]] design. In 2017, both companies increased its collaboration on engines and electric cars.<ref>{{Cite web|url=http://www.autocarindia.com/car-news/mahindra-ssangyong-ties-deepen-for-new-engine-platforms-and-electric-cars-404323|title=Mahindra-SsangYong ties deepen for new engine, platforms and electric cars|website=Autocar India|language=en|access-date=2018-12-28}}</ref> That same year, SsangYong sold 106,677 units in domestic sales and 37,008 units in exports, setting a record high in 14 years since 2003, when its annual domestic sales stood at 131,283 units. Out of this, the Tivoli alone contributed over 50,000 units of domestic sales for the company.<ref>{{Cite web|url=https://www.mahindra.com/news-room/press-release/ssangyong-motor-global-sales-record-143685-vehicles-in-2017|title=SsangYong Motor Global Sales Record 143,685 vehicles in 2017|website=www.mahindra.com|access-date=2018-12-28}}</ref> At present, Mahindra is also working with its SsangYong subsidiary to introduce high performance electric vehicles in South Korea for mass-market sales.<ref>{{Cite web|url=https://gaadiwaadi.com/mahindra-ssangyong-electric-vehicles-789498/|title=Mahindra To Help SsangYong In Developing Electrified Vehicles|last=GaadiWaadi|first=Team|date=2017-12-11|website=Gaadiwaadi.com - Car News, Bike News, Reviews|language=en-US|access-date=2018-12-28}}</ref>