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.

Published On Apr 27, 2010 11:48 IST

Published OnApr 27, 2010 11:48 IST

Last Updated OnApr 27, 2010 11:48 IST

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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.

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<p>A totally people's person Vikas Yogi ventured into journalism 5 years ago. He started his career as a journalist for an online media agency, where he worked on few of their best online projects. Later on, he was given command of their entire content development division, where he single handedly managed and developed content for various domains ranging from Telecommunications, Electronics, Home Appliances, Fashion, Lifestyle to his favorite 'Automobiles'.</p> <p>He has spent more than 3 years writing about the automobiles and being a car fanatic, he has got the right blend of enthusiasm and knowledge that is required to keep the readers' spirits up. Known for his wits and puns, Vikas is leading a team of journalists as an expert on automobiles but surely not limited to being one.</p>Read more

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