The planned takeover of Ssangyong by Edison Motors is abandoned
- The Korean manufacturer in difficulty Ssangyong was to be bought by the Korean company of electric buses Edison Motors but this takeover plan has just been invalidated by the Korean authorities, due to the non-respect of the deadline for payment of a value of 225 million euros stipulated in the sales agreement between the former owner of Ssangyong, the Indian Mahindra and the new buyer, the Korean Edison Motors.
- The objective of making Ssangyong a brand of 100% electric vehicles, as many are being created in China and the United States, is therefore abandoned. Consequently, the Ssangyong firm is condemned to wait for a new buyer or to disappear.
- Ssangyong produced only 82,000 vehicles in 2021, compared to 107,000 in 2020, 133,000 in 2019 and 142,000 in 2018. The peak of production was reached in 2013, with 172,000 vehicles produced, which is extremely low for a SUV manufacturer, because this type of model has experienced strong growth over the past twenty years to the point of representing half of sales in the main world markets.
- Ssangyong's offer may not be adapted to demand, especially since the manufacturer's range is quite modest (four models in the catalog in 2021) and little known in many markets. South Korea alone accounts for nearly 70% of the brand's sales, with 56,400 units in 2021. In Europe, 9,300 Ssangyongs were sold in 2021, 7,100 in South America and 3,000 in Australia. In China and the United States, the brand is not even distributed.
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