Done Deal: Mahindra completes SsangYong Acquisition!

Mahindra-Ssangyong

Mahindra has finally completed the process it kickstarted in August, 2010, when it emerged as the highest bidder for the ailing South Korean SUV maker. Now, SsangYong Motor Company is now an official Mahindra group company and from here on will constitute an important cog in Mahindra’s global automotive operations. Time and again, representatives of both Mahindra and SsangYong present at the press conference marking Mahindra’s completion of acquisition formalities stressed upon strategic initiatives to explore foreign markets.

What this potentially means is that Mahindra could ride on SsangYong’s product portfolio into different global markets and that includes the United States, where Mahindra is engaged in a legal tussle with it’s US importer, Global Automobiles Inc. We brought you the wind of such a development becoming possible a while ago, and from the strong vibes though not wholly conclusive emerging from this press conference, Mahindra-SsangYong could be a big UV maker targeting global markets in the coming days. Meanwhile, SssangYong will enter the Indian market next year with it’s Korando and Rexton SUV range.

Via Mahindra

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