Already in July of this year, the plan for the sale of assets of the distressed Korean automaker SsangYong Motor will be published. Also during this period, a new program for the company’s own restructuring will be announced.
Recall that the Indian company Mahindra & Mahindra, which has owned SsangYong since 2010, has decided to completely withdraw from the Korean brand. According to The Economic Times, SsangYong intends to find a new investor by October 2021.
At the moment, only two companies are paying attention to SsangYong – the American dealer holding HAAH Automotive and the Korean manufacturer of electric buses Edison Motors. HAAH Hoding offered $ 250 million for 51% of SsangYong Motor in 2020.
Last December, SsangYong Motor filed for bankruptcy of its own because it was unable to cover urgent debts in the amount of $ 148 million.