Ssang Yong
 |
|
|
Native name
|
쌍용자동차 주식회사 |
|---|---|
| Public | |
| Traded as | KRX: |
| Industry | Automotive |
| Founded | 4 March 1954 |
| Headquarters | Seoul, South Korea |
|
Area served
|
Worldwide (except North America) |
|
Key people
|
Pawan Kumar Goenka, (Chairman) Johng Sik-Choi, (President & CEO) |
| Products | Automobiles and commercial vehicles |
|
Production output
|
 119,142 (2012) |
| Revenue |
 ₩2.874 trillion (2012) |
|
₩-98.12 billion (2012) |
|
|
₩-105.93 billion (2012) |
|
| Total assets |
₩1.85 trillion (2012) |
| Total equity |
₩800.66 billion (2012) |
|
Number of employees
|
4,365 (2012) |
| Parent | Mahindra & Mahindra Limited |
| Website | smotor.com |
| SsangYong Motor | |
| Hangul | 쌍용자동차 주식회사 |
|---|---|
| Hanja | 雙龍自動車 株式會社 |
| Revised Romanization | Ssangyong Jadongcha Jusikhoesa |
| McCune–Reischauer | Ssangyong Chadongch'a Chusikhoesa |
SsangYong Motor Company (Korean: 쌍용자동차, IPA: [s͈aŋjoŋ dʑadoŋtɕʰa]) (meaning Double Dragons Motor Vehicles) is the fourth largest South Korean-based automobile manufacturer. It is a subsidiary of Indian multinational Mahindra & Mahindra Limited.
A 70% share of SsangYong was acquired by Mahindra & Mahindra Limited in February 2011, after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company. Mahindra's acquisition was approved by South Korea's Free Trade Commission.
SsangYong originally started out as two separate companies; Ha Dong-hwan Motor Workshop (established in 1954) and Dongbang Motor Co (established in 1962). In mid-1963, the two companies merged into Ha Dong-hwan Motor Co.
In 1964, Hadonghwan Motor Company started building jeeps for the US Army as well as trucks and buses. Beginning in 1976, Hadonghwan produced a variety of special purpose vehicles. After changing its name to Dong-A Motor in 1977 and taking control of Keohwa Motors in 1984, it was taken over by SsangYong Business Group in 1986 and changed its name to SsangYong Motor. In 1987, it acquired United Kingdom-based specialty car maker Panther Westwinds.
In 1991, SsangYong started a technology partnership with Daimler-Benz. The deal was for SsangYong to develop an SUV with Mercedes-Benz technology. This was supposedly to allow SsangYong to gain footholds in new markets without having to build their own infrastructure (utilizing existing Mercedes-Benz networks) while giving Mercedes a competitor in the then-booming SUV market. This resulted in the Musso, which was sold first by Mercedes-Benz and later by SsangYong.
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