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SsangYong Motor reborn as KG Mobility after takeover SsangYong Motor Co on Wednesday changed its name to KG Mobility to transform itself into a future mobility solutions company. SsangYong Motor finalised the name change at a shareholders' meeting to focus on the electric vehicle platform, software defined vehicle, autonomous driving and artificial intelligence for survival amid an accelerating electrification push. The Seoul Bankruptcy Court approved SsangYong's debt payment plans in August after the court picked a local consorti...
SsangYong Motor reborn as KG Mobility after takeover
SsangYong Motor reborn as KG Mobility after takeover
Source: IANS
22/03/2023 11:03:31 AM
M&M's SsangYong`s rehabilitation plan gets court approval A Seoul court has approved SsangYong Motor's rehabilitation plan with 'overwhelming' support from creditors and other related parties, paving the way for the carmaker to get its business back on track. In 2011, Mahindra acquired a 70 per cent stake in SsangYong for 523 billion won and now holds a 74.65 per cent stake in the carmaker. The approval, which came one month after SsangYong submitted its restructuring plan to the Seoul Bankruptcy Court, effectively green lights a l...
M&M's SsangYong`s rehabilitation plan gets court approval
M&M's SsangYong`s rehabilitation plan gets court approval
Source: IANS
27/08/2022 1:44:12 PM
M&M's SsangYong Motor to be acquired by Edison Motors' consortium Automobile major Mahindra & Mahindra's South Korea-based SsangYong Motor will be acquired by consortium of South Korean electric carmaker Edison Motors. "We are happy to hear that Edison Motors consortium has formally agreed to acquire SYMC and that the acquisition will progress to the next stage, in a defined time frame," said a Mahindra & Mahindra spokesperson. "We will cooperate with the new investor in enabling the transition." In 2010, Mahindra &a...
M&M's SsangYong Motor to be acquired by Edison Motors' consortium
M&M's SsangYong Motor to be acquired by Edison Motors' consortium
Source: IANS
13/01/2022 10:09:20 AM
Court approves $240 mn acquisition of Mahindra's SsangYong Motor A Seoul court on Monday approved a local consortium's acquisition of Mahindra & Mahindra-owned SsangYong Motor by Edison Motors for $254 million, paving the way for the financially-troubled carmaker to get back on track. The consortium led by electric carmaker Edison Motors signed a final deal with SsangYong to take over the SUV-focused carmaker, according to the two companies. SsangYong was placed under court receivership in April last year for the second time after undergoing ...
Court approves $240 mn acquisition of Mahindra's SsangYong Motor
Court approves $240 mn acquisition of Mahindra's SsangYong Motor
Source: IANS
11/01/2022 10:26:13 AM
Mahindra's SsangYong joins Chinese firm for EV battery development SsangYong Motor Co, the South Korean unit of Indian carmaker Mahindra and Mahindra Ltd, said on Wednesday it has signed an initial pact with Chinese electric vehicle maker BYD Auto Co for EV battery development. SsangYong Motor has signed a memorandum of understanding with BYD Auto to develop car batteries and produce battery packs for its models, the company said in a statement. "The partnership with BYD will pave the way for the company's plan to transform itself into an EV m...
Mahindra's SsangYong joins Chinese firm for EV battery development
Mahindra's SsangYong joins Chinese firm for EV battery development
Source: IANS
22/12/2021 3:11:19 PM