ssangyong Archives

Geneva 2011: Ssangyong SUT 1 Concept is a Korean Honda Ridgeline

Filed under: Concept Cars, Truck, Geneva Motor Show, Europe, Diesel, South Korea

Ssangyong SUT 1 Concept - Geneva reveal

Ssangyong SUT 1 Concept – Click above for high-res image gallery

Ssangyong, the other other South Korean automaker, has cranked out a “concept” SUV/pickup for the overseas markets. Please, hold your applause until the end. In reality, the SUT-1 Concept is actually a near-future production model for Ssangyong, and only a concept because they’ve dubbed it one.

As shown here, the SUT-1 draws power from a 153-horsepower 2.0-liter diesel four-banger sporting 265 pound feet of torque. Buyers in the European and Asian markets where this vehicle will be sold will have the choice between a manual or automatic transmission.

Unfortunately, truck fans, Ssangyong won’t be gracing us with the SUT-1’s presence. That’s a bummer, because we still believe there’s promise in the idea of a small pickup – particularly with a diesel. Besides, this one looks a good bit better than the aging Honda Ridgeline, no?

Gallery: Ssangyong SUT 1 Concept: Geneva 2011

Continue reading Geneva 2011: Ssangyong SUT 1 Concept is a Korean Honda Ridgeline

Geneva 2011: Ssangyong SUT 1 Concept is a Korean Honda Ridgeline originally appeared on Autoblog on Wed, 02 Mar 2011 13:20:00 EST. Please see our terms for use of feeds.

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Mahindra reportedly inks deal to buy Ssangyong for $463M

Filed under: Etc., Earnings/Financials, India, South Korea

Mahindra logo Indian automaker Mahindra & Mahindra has officially sunk its teeth into South Korean automaker Ssangyong to the tune of $463.6 million. For that low, low price Mahindra has effectively walked away with a 70 percent controlling stake in Ssangyong through the purchase of newly released shares in the company and existing corporate bonds. The move follows up on a pact to acquire Ssangyong that Mahindra signed earlier this year, and according to The Wall Street Journal, the two companies look to close the deal by March of next year.

According to Mahindra, the match is a partnership made in heaven, with the Indian carmaker able to supply both cash and marketing grunt that should mesh well with Ssangyong’s technological prowess.

We’re guessing that the South Korean carmaker is just glad to have someone to help pull it out of the throws of bankruptcy.

[Source: The Wall Street Journal – sub. req.]

Mahindra reportedly inks deal to buy Ssangyong for $463M originally appeared on Autoblog on Tue, 23 Nov 2010 16:01:00 EST. Please see our terms for use of feeds.

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Report: Mahindra joining forces with Ssangyong

Filed under: SUV, China, Earnings/Financials, India, South Korea

India’s Mahindra & Mahindra may be joining forces with South Korea’s Ssangyong to share technology, costs and to create one of the biggest producers of SUVs in the world.

Ssangyong hasn’t exactly had the best track record when it comes to foreign ownership. While China’s SAIC Motor Group was at the helm, the South Korean automaker took a nose-dive that eventually led to bankruptcy, which is where the company is now. Earlier this month, Mahindra was picked as the preferred bidder for Ssangyong, though the principles involved in the transaction aren’t willing to say how much Mahindra & Mahindra has offered for the sinking Korean company.

Back in 2004, SAIC purchased 49-percent of Ssangyong for $500 million, but was largely criticized for failing to invest enough in the partnership. Analysts typically point to the lack of investment as the main reason behind the venture’s failure. Bloomberg reports that the Mahindra bid is somewhere in the $452 million range. Ssangyong has market value of $340 million.

[Source: Bloomberg]

Report: Mahindra joining forces with Ssangyong originally appeared on Autoblog on Mon, 23 Aug 2010 18:32:00 EST. Please see our terms for use of feeds.

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