Debt-ridden SsangYong was sold for 0 million

Debt-ridden SsangYong was sold for $250 million

SsangYong, which has been trying to establish itself in the Polish market since the mid-1990s, did not do well in the past year. The company not only recorded a decline in sales of around 21 percent, but also has a huge debt. Only in the period from January to September 2021, SsanYong recorded an operating loss of nearly 200 million dollars.

It is worth noting that the South Korean manufacturer has already been close to bankruptcy. It happened in 2010, but India’s Mahindra saved the company, taking over 75 percent of SsangYong’s shares. For some time, the Indian giant has been looking for an investor who would buy some or all of the shares. Local union – Edison Motors Co.

Other text below the video:

The Korean producer assures that ownership problems have not and will not affect the company’s plans, including those related to the Polish market. Currently, the company has 28 authorized service stations in the Vistula River and has no intention of stopping there. In 2022, the Polish importer intends to sell 1,500 cars and introduce a new model to the showrooms – the fully electric Korando, which is also the first EV of the South Korean concern. It is already known that the car will debut in the first half of 2022.

However, this is not the end of the news. Next year, another electric model will appear in the range, with the name X200 for now.

Read also: