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Mahindra and Mahindra and Ssangyong plan for new vehicles
By: Cardekho2010
Posted: Sep 14, 2010
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Mahindra and Mahindra recently acquired the leading SUV manufacturer and auto maker of South Korea, Ssangyong. According to Mahindra Chief, Pawan Goenka, the company is planning to develop new cars with its new partner Ssangyong. He commented that the two companies will work together and share technology. The Indian company will help Ssangyong develop new product and modernize their line ups, added Goenka.
Ahn Soo Woong, a Seoul-based analyst at LIG Investment & Securities Co. commented last week that some people have doubts about Mahindra’s ability to revive Ssangyong after SAIC, which is a bigger company than Mahindra, failed to do so. He said that so far, Mahindra has shown strong commitment to the deal.
Goenka also commented that both companies (M& M and Ssangyong Motors) will together create a strong and powerful combination for making global SUV brand. He also said that the two companies will definitely see the benefit from their combined scale. Mahindra and Mahindra is also planning to make an investment of around billion in the coming three years. This investment will be done for product development and plant expansion and also for acquiring a controlling stake in Ssangyong.
Goenka also commented that both companies (M& M and Ssangyong Motors) will together create a strong and powerful combination for making global SUV brand.Ahn Soo Woong, a Seoul-based analyst at LIG Investment & Securities Co. commented last week that some people have doubts about Mahindra’s ability to revive Ssangyong after SAIC, which is a bigger company than Mahindra, failed to do so. He said that so far, Mahindra has shown strong commitment to the deal.
Cardekho2010 – About the Author:
CarDekho.com is the best online portal for information on new cars, used cars and to sell cars in India. Your decision on car trade is made simpler with features like Comparing cars, discounts, exact on-road prices, user & expert reviews, car community and so on. Keep yourself updated for more details on Mahindra Bolero at CarDekho.com.
Source: http://www.articlesbase.com/cars-articles/mahindra-and-mahindra-and-ssangyong-plan-for-new-vehicles-3261860.html
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Article Tags:
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