History of SsangYoung
Ssang Yong Motor Company is the fourth largest South Korean automobile manufacturer. The name Ssang Yong means double dragons.
Ssang Yong originally started out as two separate companies; Ha Dong-hwan Motor Workshop (established in 1954) and Dongbang Motor Co (established in 1962). In mid-1963, the two companies merged into Ha Dong-hwan Motor Co.
In 1964, Hadonghwan Motor Company started building jeeps for the US Army as well as trucks and buses. Beginning in 1976, Hadonghwan produced a variety of special purpose vehicles. After changing its name to Dong-A Motor in 1977, it was taken over by Ssang Yong Business Group in 1986 and changed its name to Ssang Yong Motor. In 1987, it acquired United Kingdom-based specialty car maker Panther Westwinds.
The Musso was a result of collaboration between Ssang Yong and Daimler-Benz.
In 1991 it started a technology partnership with Daimler-Benz. The deal was for Ssang Yong to develop an SUV with Mercedes-Benz technology. This was supposedly to allow Ssang Yong to gain footholds in new markets without having to build their own infrastructure (utilizing existing Mercedes-Benz networks) while giving Mercedes a competitor in the then-booming SUV market. This resulted in the Ssang Yong Musso, which was sold first by Mercedes-Benz and later by Ssang Yong.
Ssang Yong further benefited from this alliance, long after Daimler-Benz stopped selling the Musso, producing a badge engineered version of the Mercedes-Benz MB100, the Istana and using Daimler designs in many other models, including the second-generation Korando (engine and transmission), the Rexton (transmission), the Chairman H (chassis and transmission) and the Kyron (transmission).
In 1997, Daewoo Motors bought a controlling stake from the Ssang Yong Group, only to sell it off again in 2000, because the conglomerate ran into deep financial troubles. In late 2004, the Chinese automobile manufacturer SAIC took a 51% stake of Ssang Yong Motor Company. Wikinews has related news: South Korean police battle striking workers
Ssang Yong's hybrid technology (pictured) was allegedly stolen by SAIC.
In January 2009, after recording a $75.42 million loss, the company was put into receivership. This may have been due to the global economic crisis and shrinking demand. On August 14, 2009, worker strikes finished at the Ssang Yong factory and production commenced again after 77 days of disruption. Company employees and analysts have also blamed SAIC for stealing technology related to hybrid vehicles from the company and failing to live up to its promise of continued investment. SAIC denied allegations of technology theft by the company's employees. However, SAIC was charged by the South Korean prosecutor's office for violating company regulations and the South Korean law when it ordered and carried out the transfer of Ssang Yong's proprietary technology developed with South Korean government funding over to SAIC researchers.
In 2010, Daewoo Motor Sales was dropped by General Motors. The long-time dealership partner then signed a deal with the Ssang Yong Motor Company to supply new vehicles to sell (specifically the Rodius, Chairman W and Chairman H), in return for the injection of 20 billion won ($17.6 million) into the car maker still recovering from bankruptcy. The deal is non-exclusive, meaning Ssang Yong will also sell vehicles through private dealers.
In April 2010, the company released a statement citing interest of three to four local and foreign companies in acquiring Ssang Yong Motor Company, resulting in shares rising by 15%. The companies were later revealed to be Mahindra & Mahindra Limited and the Ruia Group of India and SM Aluminum, Seoul Investments and Renault Samsung of South Korea. In August 2010, Mahindra & Mahindra Limited was chosen as the preferred bidder for Ssang Yong. The acquisition was completed in February 2011 and cost Mahindra 522.5 Billion Won.
Model lineup
SUVs
Korando
Actyon
Rexton II
Kyron
Rexton
Musso
Korando
Family
Pickup trucks
Actyon Sports
Musso Sports
Rodius/Stavic
Istana
Chairman W
Chairman H
Ssang Yong Kallista
SY Truck Based on Mercedes-Benz trucks
Transtar Based on Mercedes-Benz buses