|Traded as||KRX: 003620|
|Founded||4 March 1954|
|Headquarters||Pyeongtaek, Gyeonggi-do, South Korea|
|Worldwide (except Japan, and North America)|
|Products||Automobiles and commercial vehicles|
|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
|Parent||Mahindra & Mahindra Limited (74.65%)|
A 70% share of SsangYong was acquired by Mahindra & Mahindra 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. As of January 2019, Mahindra & Mahindra holds a 74.65% stake in the company.
Dong-A Motor (1954–1987)
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. (Korean: 하동환자동차공업주식회사) 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 (Korean: 동아자동차공업주식회사) in 1977 and taking control of Keohwa in 1984, it was taken over by SsangYong Business Group in 1986.
Keohwa, Ltd. (Korean: 주식회사 거화; RR: Jusighoesa Geohwa) was a South Korean assembler of Jeeps under licence, mainly for export markets. Its predecessor was the Jeep assembly joint venture of Shinjin Motors and American Motor Corporation (AMC), established in 1974. It was spun off as an independent company in 1981, after AMC left the venture and retired the permission to use the Jeep trade mark. In 1983, Jeeps from Keohwa started to be named as "Korando". In 1984, Keohwa was acquired by the predecessor of SsangYong Motor, Dong-A Motor.
SsangYong Motors (1986–present)
After Dong-A Motor was taken over by SsangYong Business Group, Dong-A Motor changed its name to SsangYong Motor in 1988. 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.
SsangYong further benefited from this alliance, long after Daimler-Benz stopped selling the Musso, producing a badge engineered version of the Mercedes-Benz MB100, the Istana and using Daimler designs in many other models, including the second-generation Korando (engine and transmission), the Rexton (transmission), the Chairman H (chassis and transmission) and the Kyron (transmission).
Takeover by Daewoo Motors and SAIC
In 1997, Daewoo Motors, now GM Korea, bought a controlling stake from the SsangYong Group, only to sell it off again in 2000, because the conglomerate ran into deep financial troubles. In late 2004, the Chinese automobile manufacturer SAIC took a 51% stake of SsangYong Motor Company.
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In January 2009, after recording a $75.42 million loss, the company was put into receivership. This may have been due to the global economic crisis and shrinking demand. On August 14, 2009, worker strikes finished at the SsangYong factory and production commenced again after 77 days of disruption. Company employees and analysts have also blamed SAIC for stealing technology related to hybrid vehicles from the company and failing to live up to its promise of continued investment. SAIC denied allegations of technology theft by the company's employees. However, SAIC was charged by the South Korean prosecutor's office for violating company regulations and the South Korean law when it ordered and carried out the transfer of SsangYong's proprietary technology developed with South Korean government funding over to SAIC researchers.
In 2010, Daewoo Motor Sales was dropped by General Motors. The long-time dealership partner then signed a deal with the SsangYong Motor Company to supply new vehicles to sell (specifically the Rodius, Chairman W and Chairman H), in return for the injection of ₩20,000,000,000 ($17.6 million) into the car maker still recovering from bankruptcy. The deal is non-exclusive, meaning SsangYong will also sell vehicles through private dealers.
Takeover by Mahindra Automotive
In April 2010, the company released a statement citing interest of three to four local and foreign companies in acquiring SsangYong Motor Company, resulting in shares rising by 15%. The companies were later revealed to be Mahindra & Mahindra, Ruia Group, SM Aluminum, Seoul Investments and French-owned Renault Samsung Motors of South Korea. In August 2010, Mahindra & Mahindra Limited was chosen as the preferred bidder for SsangYong. The acquisition was completed in February 2011 and cost Mahindra US$463.6 million.
In 2015, SsangYong launched the Tivoli, its first car launched after Mahindra acquisition . Within a year of Tivoli's launch, the company reported its first net profit in 9 years. In 2017, SsangYong sold 106,677 units in domestic sales and 37,008 units in exports, setting a record high in 14 years since 2003, when its annual domestic sales stood at 131,283 units. Out of this, the Tivoli alone contributed over 50,000 units of domestic sales for the company. Mahindra XUV300, which was later launched in 2019 is built on Tivoli's platform, sharing many parts including several metal sheets.
Mahindra is also working with its SsangYong subsidiary to introduce high performance electric vehicles in South Korea for mass-market sales. Mahindra and SsangYong have increased their collaboration on engines and electric cars.
- SsangYoung Head Office - The Head office located in Pyeongtaek, South Korea. R&D Centre, Design Centre, and other departments are located in the Pyeongteak office
- Seoul Office - Department under Head office is located in Yeoksam-dong, Seoul
- Pyeongtaek Plant (South Korea) - Main factory. Produces a complete range.
- Changwon Plant (South Korea) - Engine and parts factory.
Current model lineup
|Rexton||2001–present||2nd generation(Y400); also known as G4 Rexton in some market or Mahindra Alturas G4 in India|
|Tivoli||2015–present||SsangYong's first new model under Mahindra & Mahindra ownership|
|XLV||2016–present||Extended version of the Tivoli; also known as Tivoli Air in South Korea.|
|Replaced by the Actyon, revived in late 2010, replaced by the C300 in 2019|
|Musso (Pickup)||2018–present||Replaced the Actyon Sports; also known as Rexton Sports in South Korea|
|Rodius/Stavic||2004–present||Also known as Korando Turismo in South Korea.|
Former model lineup
|Actyon||2006–2016||Replaced the old Korando|
|Kyron||2005–2014||SsangYong's first model under SAIC ownership|
|Musso||1993–2005||Replaced by the Kyron|
|Korando Family||1988–1995||Based on the Isuzu Trooper|
|Musso Sports||2002–2005||Replaced by the Actyon Sports|
|Actyon Sports||2006–2018||Replaced the Musso Sports; also known as Korando Sports from 2012|
|Istana||1995–2003||Licensed copy of the Mercedes-Benz MB100|
|Chairman W||2008–2017||Was sold alongside the Chairman H|
|Chairman H||1997–2014||Based on the Mercedes-Benz E-Class (W210)|
|Kallista||1992||Rebadged Panther Kallista|
|Trucks and Buses|
|DA Truck||Based on Nissan Diesel Truck|
|SY Truck||Based on Mercedes-Benz trucks|
|Transstar||Based on Mercedes-Benz buses|
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SsangYong Motor Company, automobile timeline, 1980s–present
|Full-size luxury car||Chairman H|
|Mini SUV||Korando I||Korando II||Tivoli|
|Compact SUV||Actyon||Korando III||Korando IV|
|Mid-size SUV||Korando Family||Musso||Kyron|
|Rexton I||Rexton II||Rexton III|
|Pick-up||Musso Sports I||Actyon Sports||Musso Sports II|
|Large MPV||Istana||Rodius I||Rodius II|