Mahindra acquires major stake in SsangYong
Indian manufacturer Mahindra has taken control of 70 per cent of Korean-based SsangYong, securing its future as a global vehicle manufacturer. Ssangyong’s future in the UK is also assured thanks to new investment in the importing company.Led by Paul Williams, managing director of the current importer, Koelliker UK, the new business is to be called SsangYong Motor UK (SYMUK). It has been created from the purchase of shares in Koelliker UK from the Italian-based Gruppo Koelliker by European automotive distribution company Bassadone Automotive Group. All employees of Koelliker UK will transfer to the new business with immediate effect.
“This is superb news for our dealers and customers who have been so loyal to the brand,” said Williams. “Shipments of the new Korando, as well as 2012 specification Rexton 2 and Rodius models will begin to arrive within the next few weeks. In addition to the current model line up, SsangYong is actively working on a number of new products, including range extensions to Korando as well as an electric vehicle. The first of these will be seen at the Frankfurt Motor Show in September.”
As with the current Rexton 4x4, SsangYong will be offering light commercial variants of the revised 2012 models with either manual or auto transmissions. It is expected that the manufacturer will use Frankfurt to showcase its SUT1 sports utility pick-up — which was shown in concept form at this year’s Geneva Show — in market-ready trim. See previous News Story.























