SsangYong has found who it & quot; saves & agrave; & quot ;. The Korean brand, as we all know, has been in receivership since last year after Mahindra had decided to disengage from the relaunch operation. Since then, SsangYong has been looking for new lenders who could buy it. In the end, & egrave; stratum found a consortium led by Edison Motors that produces electric trucks and buses. According to reports, the acquisition is expected to have a value of approximately 260 million dollars.
Since the Korean brand & egrave; in receivership, the sale transaction will have to be authorized by the Court. SsangYong and the consortium are expected to sign a definitive agreement by the end of November.
AN ELECTRIC FUTURE
The consortium has an ambitious recovery plan for the Korean carmaker in mind. In particular, it would aim to ensure that within 3-5 years the brand concentrates its activities; on electric models . For the relaunch, the consortium intends to bring the activities back to full capacity; of the SsangYong factory which is located south of Seoul. In particular, it would aim to produce up to 300,000 vehicles per year.
The consortium expects to build 10 new electric models by 2022 , 20 by 2025 and 30 by 2030 in the SsangYong facilities. The details of the plan have obviously not yet been revealed but it seems that the ideas are very clear. Obviously, first the consortium will have to & agrave; complete all the steps required for the acquisition of the automaker. The total costs of the operation have not yet been disclosed but the entire recovery plan could cost just under a billion dollars.
It will be worth it. therefore it is very interesting to find out in the coming months which one will be; the strategy that will allow; to SsangYong to move forward and bring new models to market. All that remains is to wait for further news.
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