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Electric/Hybrid - SsangYong announce EV homecharging partnership with EO Charging - Renewable Energy Magazine, at the heart of clean energy journalism
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SsangYong Motors adds Holt to its dealer network
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SsangYong to accelerate EV development as part of self-rescue plan
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SsangYong continues trading after bankruptcy filing, with business as usual for Australia
23 Dec 2020 • 4 min read
The SsangYong Motor Company will continue to operate as normally around the world – including in Australia – after it has secured protection under South Korea’s bankruptcy administration process.
This comes after the South Korean arm of Indian industrial giant Mahindra and Mahindra (M&M) filed for bankruptcy on Monday December 22, following the failure to meet accumulating debt repayments due the week before, that amounted to about 60 billion Korean won ($A72 million).
In September M&M revealed that it would transfer, dilute or cease its controlling stake in SsangYong, after almost a decade of mounting losses, meaning it sought a buyer for the struggling brand. The Mitsubishi Motors Corporation of Japan was reportedly one new major investor in discussions until recently.