Mahindra has, in the past, flirted with Ssang Yong – the South Korean auto maker. In 2003, when Daewoo went broke, M&M was flexing its arms to buy controlling stake in Ssang Yong. Mahindra pulled out of the deal giving berserk statements that SMC did not fit its plans for international market expansion. Later, M&M was thinking of bringing SMC’s Rexton SUV to India, but that was all we heard of it.
However, this time, the news is fairly concrete, apparently. According to a leading South Korean newspaper – Korea Economic Daily – Mahindra has expressed interest in buying the cash-strapped Korean manufacturer, Ssang Yong. Neither Mahindra nor Ssang Yong have confirmed the news till now though.
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