By on August 7, 2010

India’s Mahindra & Mahindra is putting in a binding bid to buy a majority stake in troubled South Korean automaker Ssangyong Motor. Ssangyong went bankrupt in 2009 after China’s SAIC dropped the ball. They nearly went up in flames, when militant workers incited a riot and threatened to blow up the paint shop.

On Thursday, sources told Reuters that Mahindra was willing to pay up to $400 million for a controlling share in Ssangyong.  According to Automotive News [sub], Mahindra “is the process of becoming a diversified player in the automotive sector and has been steadily making small acquisitions.”

Mahindra bought out Renault’s stake in a joint venture, that makes no-frills Logan sedans in India.
A few days later, it entered into an agreement to buy a majority stake in Indian electric carmaker Reva.

Mahindra, is not the only bidder for Ssangyong.  Others bidders include Renault-Nissan, and Ruia group from Kolkata.

Get the latest TTAC e-Newsletter!

4 Comments on “Indian’s Mahindra After Korea’s Ssangyong...”



Back to TopLeave a Reply

You must be logged in to post a comment.

Subscribe without commenting

Recent Comments

  • Re: Toyota May Kill V6 Camry

    highdesertcat - @Astigmatism: No, not yet! My grandson is finding it very difficult to find and trade on a V6 Accord or V6 Camry. The cars are out there, to be sure, but the...
  • Re: Piston Slap: The Express’ New Mission?

    Mandalorian - The most important thing to do is give it a custom paint job. How about a dragon strangling a mongoose with a psychedelic background?
  • Re: Toyota May Kill V6 Camry

    Prado - I doubt they could realize any ‘packaging advantages’ by dropping the 6, because they still need an engine bay that is big enough to accommodate the Hybrid...
  • Re: Last First-Gen Volvo XC90 Rolls Out Of Torslanda

    EChid - Well, yes and no. The T6 was available with the early models but was mated to a bad transmission. By the time they fixed all of the teething issues...
  • Re: Don’t Drink the Google Kool-aid: Autonomy’s Limits in Three Sips

    BuzzDog - Your comment reads very similarly to what mainframe computer manufacturers were saying about personal computers, some...
  • Re: Toyota May Kill V6 Camry

    PrincipalDan - @Lorenzo, that sort of thought has occurred to me driving my 67 Mustang. The greasy bits of cars are more reliable than they’ve ever been, its the stuff that...
  • Re: Toyota May Kill V6 Camry

    Zackman - I suppose I’m of a generation well behind current engine development. For me, I have serious if unfounded concerns about pulling 3500-4000 lbs. with a 4 cylinder...
  • Re: Last First-Gen Volvo XC90 Rolls Out Of Torslanda

    CoreyDL - Oh FINALLY they kill this design. It has aged well used, but has not been a good purchase-as-new option since about 2006, when it started looking...
  • Re: Last First-Gen Volvo XC90 Rolls Out Of Torslanda

    Mandalorian - When I was SUV shopping back in late 2011, I considered an XC90. It checked almost all of my boxes. However, the year I bought 2012, the V8...
  • Re: Toyota May Kill V6 Camry

    canddmeyer - The V6 in the Camry isn’t going anywhere as it is part of the infrastructure of multiple Toyota vehicles.

New Car Research

Get a Free Dealer Quote

Staff

  • Authors

  • Brendan McAleer, Canada
  • Marcelo De Vasconcellos, Brazil
  • Matthias Gasnier, Australia
  • Tycho de Feyter, China
  • W. Christian 'Mental' Ward, Abu Dhabi
  • Mark Stevenson, Canada
  • Faisal Ali Khan, India