Mahindra may buy Korea based Ssangyong Motor Co,
Mahindra & Mahindra, India's largest SUV maker, has showed interest in buying a South Korea based company named as Ssangyong Motor Co, reported a South Korean newspaper, on Monday. As per the news reports in the Korea Economic Daily, the Mahindra Group recently sent a letter to Ssangyong saying it wanted to acquire management rights in the firm.
Mahindra Mahindra, India's largest SUV maker, has showed interest in buying a South Korea based company named as Ssangyong Motor Co, reported a South Korean newspaper, on Monday. As per the news reports in the Korea Economic Daily, the Mahindra Group recently sent a letter to Ssangyong saying it wanted to acquire management rights in the firm.
The news quoted an industrial sources as saying that the group's unit Mahindra Mahindra, India's top utility vehicle and tractor maker, is expected to buy Ssangyong. However there is no conformation from the company's side regarding these news reports. In December 2009, a South Korean court backed Ssangyong's rescue plan, which was opposed by its majority owner, China's SAIC Motor Corp.
Mahindra
is currently India's most popular SUV maker with selling some of the most popular cars in this segment including best selling Mahindra Bolero, Mahindra Scorpio and the latest Mahindra Xylo.