Mahindra and Mahindra and Ssangyong plan for new vehicles

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  $2 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.

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