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SsangYong Motor Company

SsangYong Motor Company
Native name
쌍용자동차 주식회사
Public
Traded as KRX:
Industry Automotive
Founded 4 March 1954
Headquarters Seoul, South Korea
Area served
Worldwide (except North America)
Key people
Lee Yoo-il, CEO
Products Automobiles and commercial vehicles
Production output
Increase 119,142 (2012)
Revenue Decrease2.874 trillion (2012)
Increase ₩-98.12 billion (2012)
Increase ₩-105.93 billion (2012)
Total assets Increase ₩1.85 trillion (2012)
Total equity Decrease ₩800.66 billion (2012)
Number of employees
4,365 (2012)
Parent Mahindra & Mahindra Limited (70%)
Website smotor.com
SsangYong Motor
Hangul 쌍용자동차 주식회사
Hanja 雙龍自動車 株式會社
Revised Romanization Ssangyong Jadongcha Jusikhoesa
McCune–Reischauer Ssangyong Chadongch'a Chusikhoesa

SsangYong Motor Company(Korean: 쌍용자동차, IPA: [s͈aŋjoŋ dʑadoŋtɕʰa]) (meaning Double Dragons Motor Vehicles) is the fourth largest South Korea-based automobile manufacturer. It is a subsidiary of Indian multinational Mahindra & Mahindra Limited.

A 70% share of SsangYong was acquired by Mahindra & Mahindra Limited in February 2011, after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company. Mahindra's acquisition was approved by South Korea's Free Trade Commission.

SsangYong originally started out as two separate companies; Ha Dong-hwan Motor Workshop (established in 1954) and Dongbang Motor Co (established in 1962). In mid-1963, the two companies merged into Ha Dong-hwan Motor Co.

In 1964, Hadonghwan Motor Company started building jeeps for the US Army as well as trucks and buses. Beginning in 1976, Hadonghwan produced a variety of special purpose vehicles. After changing its name to Dong-A Motor in 1977, it was taken over by SsangYong Business Group in 1986 and changed its name to SsangYong Motor. In 1987, it acquired United Kingdom-based specialty car maker Panther Westwinds.

In 1991, SsangYong started a technology partnership with Daimler-Benz. The deal was for SsangYong to develop an SUV with Mercedes-Benz technology. This was supposedly to allow SsangYong to gain footholds in new markets without having to build their own infrastructure (utilizing existing Mercedes-Benz networks) while giving Mercedes a competitor in the then-booming SUV market. This resulted in the Musso, which was sold first by Mercedes-Benz and later by SsangYong.


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