Tuesday, November 16, 2010

Mahindra to Expand US Business after Ssangyong Acquisition

IndianExpress.com is reporting this morning that an undisclosed “senior official” from Mahindra’s Finance and Strategic Development Department has informed them that the US pickup and SUV market is in Mahindra’s crosshairs after the Ssangyong takeover is complete.

Due diligence and planning for the acquisition of the bankrupt South Korean automaker, Ssangyong Motor, began earlier this summer and is projected to be complete by March of 2011, with Mahindra-Ssangyong vehicles being launched in India shortly after.

"We have entered into an agreement with the ailing Ssangyong Motor in August to acquire a majority stake in the South Korean SUV-maker to expand our business in international markets. We are looking at entering the US market, once the deal is through," the article quotes the anonymous Mahindra official.

The official goes on to restate the obvious, "When the global presence of Mahindra and Ssangyong is combined, jointly we will be able to achieve more success in the global market."

No other sources are currently verifying these statements, but they do correspond with speculation provided by the president of Mahindra’s punching bag/US distributor, Global Vehicles USA. John Perez claimed in a letter to customers two weeks ago that Mahindra pickups will be available in the US sometime in the spring. The saga continues.

Source: IndianExpress.com, CarTradeIndia.com, PickupTrucks.com


Anonymous said...

well well, the fuzzy warm feeling never ends.

Anonymous said...

Hopefully the South Korean culture tolerates contract shenanigans, poor communications, delays, lies, etc.

Anonymous said...

Bought a Toyota!!

Anonymous said...

Congrats on the toyota! I think there a great truck. had a 1980 4x4 for 10 years and 176,000 mi.
I'm still liking the silverado too.