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SsangYong Motor Company

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SsangYong Motor Company
Founded 1954
Headquarters Seoul, South Korea
Key people Yoo-Il Lee, Joint Receiver
Industry Automotive
Products Automobiles and Commercial vehicles
Parent Mahindra & Mahindra Limited
Website smotor.com
SsangYong Motor Company
Korean name
Hangul 쌍용자동차
Hanja 雙龍自動車
Revised Romanization Ssangyong Jadongcha
McCune–Reischauer Ssangyong Chadongch'a

SsangYong Motor Company is the fourth largest South Korean automobile manufacturer.[1] The name SsangYong means double dragons.

SsangYong was acquired by India's Mahindra & Mahindra Limited in February 2011,[2] after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company.[3] Mahindra's acquisition was approved by South Korea's Free Trade Commission.[4]


HistoryEdit

It was founded as Hadonghwan Motor Company in 1954 and started by building Jeeps for the US Army. 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 1988 and changed its name to SsangYong Motor.

In 1991 it started a technology partnership with Daimler-Benz. Later, it acquired United Kingdom-based specialty car maker Panther Westwinds.

In 1997 Daewoo Motors bought a controlling stake from the Ssangyong Group, only to sell it off again in 2000, because the conglomerate ran into deep financial troubles. 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. This was due to the global economic crisis and shrinking demand.[5]

As of the 08/09 English football season, SsangYong are the main sponsor of former British Gas Business (Southern) Premier League and current Blue Square North League club, Gloucester City A.F.C. They recently signed a new 1 year deal, ensuring their sponsorship until the 10/11 English football season.[6]

On August 14, 2009, worker strikes finished at the SsangYong factory and production commenced again after 77 days of riots.[7]

Model lineupEdit

Passenger cars and SUVsEdit

Name Production Notes Image
SUVs
Korando 2010–present 20110313 ssangyong korando c 001
Actyon 2006–present replaced the Korando SsangYong Actyon front 20080303
Korando 1983–2006 replaced by the Actyon, due to be revived in late 2010 SsangYong Korando front 20080711
Kyron 2005–present 2010 SsangYong Kyron 2.7 XDI
Musso 1993–2005 replaced by the Rexton SsangYong Musso
Rexton 2001–2005 replaced the Musso and was replaced by the Rexton II SsangYong Rexton RX270 XDi
Rexton II 2006–present replaced the Rexton Rexton II 2.7 XDI 186 cavalli 2008
Family 1988–1995 based on the Isuzu Trooper Ssangyong family
Pickup trucks
Actyon Sports 2006–present replaced the Musso Sports Ssang Yong Actyon Sports
Musso Sports 2002–2005 replaced by the Actyon Sports Ssangyong Musso Sports
Vans
Rodius/Stavic 2004–present SSangyong Rodius
Istana 1995–2003 licensed copy of the Mercedes-Benz MB100 Ssangyong istana cropped
Luxury cars
Chairman H 1997–present based on the Mercedes-Benz W124, replaced by the Chairman W Ssangyong Chairman -- Korea
Chairman W 2008–present sold alongside the Chairman H SsangYong Chairman W
SsangYong Kallista 1992 rebadged Panther Kallista Panther Kallista white
Trucks and Buses
SY Truck based on Mercedes-Benz trucks Ssangyong truck
Transtar based on Mercedes-Benz buses SsangYong SB85M Transstar

Commercial vehiclesEdit


ReferencesEdit

  1. Ssangyong Motors
  2. Nandini Sen Gupta, TNN, Feb 16, 2011, 12.56am IST (2011-02-16). "M&M seals $470m Ssangyong deal - The Times of India". Timesofindia.indiatimes.com. Retrieved on 2011-02-25.
  3. Seo, Sookyung (2010-10-13). "Mahindra May Complete Acquiring Ssangyong Controlling Stake in Early 2011". Bloomberg.com. Retrieved on 2011-02-25.
  4. "South Korea’s watchdog nods Mahindra buy of Ssangyong". Livemint.com (2010-10-29). Retrieved on 2011-02-25.
  5. Article from MarketWatch
  6. "Gloucester City Football Club". Gloucestercityafc.com. Retrieved on 2009-09-27.
  7. "INSIDE JoongAng Daily". Joongangdaily.joins.com (2009-08-14). Retrieved on 2009-09-27.

External linksEdit

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