autos, cars, ssangyong, news, ssangyong corporate, ssangyong rescue deal collapses

SsangYong Motor, the beleaguered South Korean SUV specialist said a deal for its acquisition had fallen through after potential buyer, Edison Motors, had failed to pay the balance of 274.3 billion Korean won (USD 224 million).

Last January,

the two companies signed an agreement in which a consortium led by electric bus maker

would acquire a controlling stake in SsangYong, which is majority owned by the Indian conglomerate Mahindra & Mahindra.

However, Edison did not meet a March 25 payment deadline, and the contract was canceled, Ssangyong said. SsangYong says it would now seek a new buyer.

Edison had paid about 10 percent of the purchase price at signing.

SsangYong, which sells the Rexton, Korando, and Tivoli has been under

court receivership since April 2021 after Mahindra failed to secure a buyer

. The Indian company acquired a 75 percent interest in Ssangyong in 2010.

SsangYong’s global sales last year fell to 84,496, down about 21 percent from a year earlier, the automaker said.

Keyword: SsangYong Rescue Deal Collapses

CAR'S NEWS RELATED

SsangYong Musso update revealed ahead of expected 2023 launch

After being leaked earlier this week, the updated SsangYong Musso and Musso XLV – or KG Mobility Rexton Sports Culmen and Rexton Sports Khan Culmen, as they’re now known in Korea – have been revealed. The updated ute range hasn’t been confirmed for a local launch yet, but SsangYong Australia ...

View more: SsangYong Musso update revealed ahead of expected 2023 launch

2023 SsangYong Rexton facelift: Pajero Sport rival gets new tech

The KG Mobility Rexton New Arena has been revealed as a refreshed SsangYong Rexton, complete with an overhauled interior. The Rexton New Arena sees a similar set of updates to the related Musso. SsangYong Australia says it hasn’t finalised a local launch yet for either model, but is estimating one ...

View more: 2023 SsangYong Rexton facelift: Pajero Sport rival gets new tech

SsangYong Musso: Updated ute leaked ahead of Australian launch

The updated SsangYong/KG Mobility Musso dual-cab ute has been leaked undisguised ahead of an expected Australian launch this year. Photos shared on Korean site Autospy show the updated Musso in a showroom, revealing its updated interior and exterior. SsangYong Australia says a local launch for the updated Musso hasn’t been ...

View more: SsangYong Musso: Updated ute leaked ahead of Australian launch

Coming to take on Toyota HiLux and Ford Ranger? Is this a new 2024 SsangYong Musso XLV facelift? - report

A major facelift of the Musso could mean the model will continue for more years to come. The Australian version of the Musso sticks with the 133kW and 400Nm outputs. The Musso seen on Korean forums and reports appears to be a heavily facelifted version of the existing car. ...

View more: Coming to take on Toyota HiLux and Ford Ranger? Is this a new 2024 SsangYong Musso XLV facelift? - report

SsangYong Musso update leaked, new interior coming

A refreshed version of the SsangYong Musso has emerged, courtesy of a leaked image and spy photos shared on Korean media. The brand – now officially known as KG Mobility – is calling the tweaked version of the Rexton Sports and Khan (Musso and Musso XLV) the Culmen. We’ve contacted ...

View more: SsangYong Musso update leaked, new interior coming

SsangYong turns the tables, wants to rescue former suitor

The plot line is bit of Days of Our Lives mixed with Succession via Bollywood, but the company once known as SsangYong is in the box seat to rescue from receivership Edison Motors, the bus manufacturer that tried to buy it last year. According to the Yonhap News Agency, KG ...

View more: SsangYong turns the tables, wants to rescue former suitor

2023 SsangYong Rexton review

This Korean company offers huge value for buyers on a budget. SsangYong, which is set to soon be rebranded KG Mobility after a long takeover process, has always been considered the ‘other’ South Korean car maker behind Hyundai and Kia. And in Australia, the company has always hung its hat ...

View more: 2023 SsangYong Rexton review

Ssangyong rebrands and presents new electric vehicle model

The South Korean car manufacturer SsangYong is now called KG Mobility and has presented its second electric model. The background to the name change is the takeover of the Korean carmaker by the domestic conglomerate KG. Like the Korando e-Motion, the Torres EVX is a BEV offshoot of the ...

View more: Ssangyong rebrands and presents new electric vehicle model

KG Mobility unveils electric urban ute concept

SsangYong reveals electric ute concept, new SUVs

SsangYong Torres EVX: Electric SUV battery, powertrain detailed

Is a new SsangYong ute coming? SsangYong shows off three new cars at Seoul Mobility Show, including Torres ute and electric SUV

Subaru WRX, Porsche 911, Ford Mustang... the shrinking list of cars with manuals left in Australia | Opinion

SsangYong name change finalised

New name, who this? SsangYong officially confirms name change to KG Mobility, announces new slogan

SsangYong's boxy new SUV on track, could come with EV

Ssangyong renames itself KG Mobility and expands focus

SsangYong is getting a rebrand

SsangYong unveils new Torres EVX as all-new rugged SUV

A new Toyota RAV4 Hybrid alternative! 2024 SsangYong Torres EVX electric car confirmed, but will it come to Australia?

OTHER CAR NEWS

; Top List in the World https://www.pinterest.com/newstopcar/pins/
Top Best Sushi Restaurants in SeoulTop Best Caribbean HoneymoonsTop Most Beautiful Islands in PeruTop Best Outdoor Grill BrandsTop Best Global Seafood RestaurantsTop Foods to Boost Your Immune SystemTop Best Foods to Fight HemorrhoidsTop Foods That Pack More Potassium Than a BananaTop Best Healthy Foods to Gain Weight FastTop Best Cosmetic Brands in the U.STop Best Destinations for Food Lovers in EuropeTop Best Foods High in Vitamin ATop Best Foods to Lower Your Blood SugarTop Best Things to Do in LouisianaTop Best Cities to Visit in New YorkTop Best Makeup Addresses In PennsylvaniaTop Reasons to Visit NorwayTop Most Beautiful Islands In The WorldTop Best Law Universities in the WorldTop Richest Sportsmen In The WorldTop Biggest Aquariums In The WorldTop Best Peruvian Restaurants In MiamiTop Best Road Trips From MiamiTop Best Places to Visit in MarylandTop Best Places to Visit in North CarolinaTop Best Electric Cars For KidsTop Best Swedish Brands in The USTop Best Skincare Brands in AmericaTop Best American Lipstick BrandsTop Michelin-starred Restaurants in MiamiTop Best Secluded Getaways From MiamiTop Best Things To Do On A Rainy Day In MiamiTop Most Instagrammable Places In MiamiTop Interesting Facts about FlorenceTop Facts About The First Roman Emperor - AugustusTop Best Japanese FoodsTop Most Beautiful Historical Sites in IsraelTop Best Places To Visit In Holy SeeTop Best Hawaiian IslandsTop Reasons to Visit PortugalTop Best Hotels In L.A. With Free Wi-FiTop Best Scenic Drives in MiamiTop Best Vegan Restaurants in BerlinTop Most Interesting Attractions In WalesTop Health Benefits of a Vegan DietTop Best Thai Restaurant in Las VegasTop Most Beautiful Forests in SwitzerlandTop Best Global Universities in GermanyTop Most Beautiful Lakes in GuyanaTop Best Things To Do in IdahoTop Things to Know Before Traveling to North MacedoniaTop Best German Sunglasses BrandsTop Highest Mountains In FranceTop Biggest Hydroelectric Plants in AmericaTop Best Spa Hotels in NYCTop The World's Scariest BridgeTop Largest Hotels In AmericaTop Most Famous Festivals in JordanTop Best European Restaurants in MunichTop Best Japanese Hiking Boot BrandsTop Best Universities in PolandTop Best Tips for Surfing the Web Safely and AnonymouslyTop Most Valuable Football Clubs in EuropeTop Highest Mountains In ColombiaTop Real-Life Characters of Texas RisingTop Best Beaches in GuatelamaTop Things About DR Congo You Should KnowTop Best Korean Reality & Variety ShowsTop Best RockstarsTop Most Beautiful Waterfalls in GermanyTop Best Fountain Pen Ink BrandsTop Best European Restaurants in ChicagoTop Best Fighter Jets in the WorldTop Best Three-Wheel MotorcyclesTop Most Beautiful Lakes in ManitobaTop Best Dive Sites in VenezuelaTop Best Websites For Art StudentsTop Best Japanese Instant Noodle BrandsTop Best Comedy Manhwa (Webtoons)Top Best Japanese Sunglasses BrandsTop Most Expensive Air Jordan SneakersTop Health Benefits of CucumberTop Famous Universities in SwedenTop Most Popular Films Starring Jo Jung-sukTop Interesting Facts about CougarsTop Best Hospitals for Hip Replacement in the USATop Most Expensive DefendersTop Health Benefits of GooseberriesTop Health Benefits of ParsnipsTop Best Foods and Drinks in LondonTop Health Benefits of Rosehip TeaTop Best Air Fryers for Low-fat CookingTop Most Asked Teacher Interview Questions with AnswersTop Best Shopping Malls in ZurichTop The Most Beautiful Botanical Gardens In L.A.Top Best Mexican Restaurants in Miami for Carb-loading rightTop Best Energy Companies in GermanyTop Best Garage HeatersTop Largest Banks in IrelandTop Leading Provider - Audit and Assurance In The USTop Best Jewelry Brands in IndiaTop Prettiest Streets in the UKTop Best Lakes to Visit in TunisiaTop Highest Mountains in Israel