SsangYong Motor Company, South Korea

SsangYong Motor Company, South Korea

SsangYong Motor Company

 

Established
4 March 1954; 63 years ago
Founder
---

Headquarters
Seoul, South Korea

 

SsangYong Motor Company is the fourth largest South Korea-based automobile manufacturer. It is a subsidiary of Indian multinational Mahindra & Mahindra Limited. The company was founded in 4 March 1954, and the company headquartered is situated in Seoul, South Korea. The key people of the company are the chairman “Pawan Kumar”, company president & CEO is “Johng Sik-Choi”. The company mainly produced automobiles and commercial vehicles. The company total revenue is ₩ 2.874 trillion since 2012 and company Net income measured ₩105.93 billion according to 2012 year.A 70% share of SsangYong was acquired by Mahindra & Mahindra Limited in February 2011.

 

History

1954-1990s :

In the beginning, the SsangYong started out as two separate companies, Ha Dong-hwan Motor Workshop in 1954 and Dongbang Motor Co. in 1962, later in mid-1963, the two companies joined with Ha Dong-hwan Motor Co. In 1964, Hadongkwan Motor Company began manufacturing jeeps for the US Army and also trucks and buses.

In 1977, after changing its name to Dong-A Motor, it was taken over by SsangYong Business Group since 1986 and changed its name to SsangYong Motor. In 1987 SsangYong Motor aquired United Kingdom-based oddity car maker Panther Westwinds.

In 1991, SsangYong started a technology partnership with Daimler-Benz. The deal was for SsangYong to create an SUV with Mercedes-Benz technology.This resulted in the Musso, which was sold first by Mercedes-Benz and later by SsangYong. This alliance had another benefit , long after Daimler-Benz stopped selling the Musso, SsangYong produced a badge engineered version of the Mercedes-Benz MB100, the Istana and using Daimler designs in many other models, including the second-generation Korando (engine and transmission), the Rexton (transmission), the Chairman H (chassis and transmission)and the Kyron (transmission).

In 1997, SsangYong Motor established its presence in three major sectors of the automobile market with its passenger cars, sport-utility vehicles, and recreational vehicles. Ssangyong was severely tested by the economic downturn that affected all Asian countries later that year, but during this period, Daewoo Motors bought a controlling stake in Ssangyong, selling it off again in 2000, when Ssangyong established itself as an independent automobile manufacturer again.

 

2000s :

In late 2004, the Chinese automobile manufacturer SAIC took a 51% stake of SsangYong Motor Company.

In January 2009, after recording a $75.42 million loss, the company was put into receivership due to the global economic crisis and shrinking demand. On August 14, 2009, worker strikes finished at the SsangYong factory and production commenced again after 77 days of disruption. Company employees and analysts have also blamed SAIC for stealing technology related to hybrid vehicles from the company and failing to live up to its promise of continued investment.Then the South Korean law ordered and carried out the transfer of SsangYong's proprietary technology developed with South Korean government funding over to SAIC researchers.

In 2010, Daewoo Motor Sales was dropped by General Motors. The long-time dealership partner then signed a deal with the SsangYong Motor Company to supply new vehicles to sell the Rodius, Chairman W and Chairman H, in return for the injection of ₩20,000,000,000 into the car maker still recovering from bankruptcy though SsangYong will also sell vehicles through private dealers.

In April 2010, the company released a statement citing interest of three to four local and foreign companies in acquiring SsangYong Motor Company, resulting in shares rising by 15%.The companies were later revealed to be Mahindra & Mahindra and the Ruia Group of India and SM Aluminum, Seoul Investments and French-owned Renault Samsung Motors of South Korea. In August 2010, Mahindra & Mahindra Limited was chosen as the preferred bidder for SsangYong.

 

Manufacturing Factories

  1. South Korea (Pyeongtaek), Main factory, manufactured a complete range.
  2. Russia (Vladivostok), Russian company Sollers JSC manufactured SsangYong Korando as New Actyon, Kyron, Rexton II, Actyon Sports and its latest version SUT1.
  3. Ukraine (Kremenchug), Kremenchug Сar manufacturing Plant (KrASZ) Produced Korando, Kyron, and Rexton II.

 

Logo and Brand

 

SsangYong is simple and influential like other car logos. Ssangyong means twin dragons. The Ssangyong Logo is a stylized representation of two intertwined dragons rising to heaven. The production of top performance cars proves that Ssangyong logo never lets its name down along with other car logos in the motor world. It continues to emerge and mark its brand not only in Asia but in a more global competition.

SsangYong Current Model

SUVs :

  • Tivoli (2015)
  • Actyon (2006)
  • Rexton W (2012)
  • Korando (1983 to 2010)

 

Pickup Trucks :

  • Actyon Sports (2006)

 

Vans :

  • Rodius/Stavic

 

Luxury Cars :

  • Chairman W (2008)

 

Trucks and Buses :

  • DA Truck
  • SY Truck
  • Transtar

 

SsangYong Former Model

  • Kyron
  • Rexton II
  • Musso
  • Rexton
  • Korando Family
  • Musso Sports
  • Istana
  • Chairman H
  • Kallista

 

 

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