Unsurprising News Of The Day: Mahindra Gets Ssangyong
The drawn-out drama of who would get what was left of the busted SAIC-Ssangyong deal has come to an – at least preliminary- end. Oneindia reports that India’s Mahindra & Mahindra bought the pieces of Korean Ssangyong. TTAC readers are not surprised.
Mahindra & Mahindra had been selected as the preferential bidder in August, but you know how it is: The accountants take their time, the lawyers run up the clock arguing about items in side-letters.
Mahindra & Mahindra got Ssangyong on the cheap, published reports talk about $464m.
Now for the more pressing question: When will Mahindra & Mahindra finally bring the diesel-powered trucks and SUVs to U.S. shores?
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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That's appropriate. Despite recent abominations, Ssangyong has a proud history of building able vehicles, notably the license-built CJ7's in both wagon and four door versions way before we had a 4 door Wrangler over here. I saw them running around Central America some years ago. Ahh, the stuff the American goobermint doesn't allow us to have, for our own good of course: http://www.4-the-love-of-jeeps.com/korando.html
love their cars especially the chairman: http://en.wikipedia.org/wiki/SsangYong_Chairman