public traded as krx 003620 industry automotive founded 4 march 1954 1 headquarters seoul south korea area served worldwide except north america key people lee yoo il ceo products automobiles and commercial vehicles production output 119 142 2012 1 revenue 2.874 trillion 2012 1 2 operating income 98.12 billion 2012 2 net income 105.93 billion 2012 2 total assets 1.85 trillion 2012 2 total equity 800.66 billion 2012 2 number of employees 4 365 2012 1 parent mahindra & mahindra limited 70 % website smotor.com ssangyong motor company korean ipa s a jo d ado t a meaning double dragons motor vehicles is the fourth largest south korea based automobile manufacturer . it is a subsidiary of mahindra & mahindra limited . 3 a 70 % share of ssangyong was acquired by mahindra & mahindra limited in february 2011 4 after being named the preferred bidder in 2010 to acquire the bankruptcy protected company . 5 mahindra s acquisition was approved by south korea s free trade commission . 6 contents 1 history 2 factories 3 model lineup 4 see also 5 references 6 external links history edit firetrucks produced by ssangyong and its predecessor dong a motor . the musso was a result of collaboration between ssangyong and daimler benz . ssangyong motor hangul hanja revised romanization ssangyong jadongcha jusikhoesa mccune reischauer ssangyong chadongch a chusikhoesa ssangyong 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. 7 8 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 ssangyong business group in 1986 and changed its name to ssangyong motor . 9 in 1987 it acquired united kingdom based specialty car maker panther westwinds . 9 in 1991 ssangyong started a technology partnership with daimler benz . the deal was for ssangyong to develop an suv with mercedes benz technology . this was supposedly to allow ssangyong 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 . 10 this resulted in the musso which was sold first by mercedes benz and later by ssangyong . 11 ssangyong 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 12 the chairman h chassis and transmission 13 and the kyron transmission . 14 in 1997 daewoo motors now tata daewoo bought a controlling stake from the ssangyong 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 ssangyong motor company . wikinews has related news south korean police battle striking workers ssangyong s hybrid technology . 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 . 15 on august 14 2009 worker strikes finished at the ssangyong factory and production commenced again after 77 days of disruption . 16 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 . 17 18 saic denied allegations of technology theft by the company s employees . 19 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 ssangyong s proprietary technology developed with south korean government funding over to saic researchers . 20 in 2010 daewoo motor sales was dropped by general motors . the long time dealership partner then signed a deal with the ssangyong motor company to supply new vehicles to sell specifically the rodius chairman w and chairman h in return for the injection of 20 000 000 000 17.6 million into the car maker still recovering from bankruptcy . the deal is non exclusive meaning ssangyong will also sell vehicles through private dealers . 21 in april 2010 the company released a statement citing interest of three to four local and foreign companies in acquiring ssangyong motor company resulting in shares rising by 15 % . 22 the companies were later revealed to be mahindra & mahindra and the ruia group of india and sm aluminum seoul investments and french owned renault samsung motors of south korea . 23 24 in august 2010 mahindra & mahindra limited was chosen as the preferred bidder for ssangyong . 25 the acquisition was completed in february 2011 4 26 and cost mahindra 522.5 billion won . 27 factories edit south korea pyeongtaek . main factory . produces a complete range . russia vladivostok . russian company sollers jsc manufactured ssangyong korando as new actyon kyron rexton ii actyon sports and its upgraded version sut1 . ukraine kremenchuk . kremenchuk ar assembly plant krasz manufactured korando kyron rexton ii . model lineup edit name production notes image suvs tivoli 2015 present ssangyong s first new model under mahindra & mahindra ownership 28 korando 2010 present actyon 2006 present replaced the old korando rexton w 2012 present replaced the rexton ii kyron 2005 present ssangyong s first model under saic ownership rexton ii 2006 2012 replaced the rexton rexton 2001 2005 replaced the musso and succeeded by the rexton ii musso 1993 2005 replaced by the kyron korando 1983 2006 2010 present replaced by the actyon revived in late 2010 korando family 1988 1995 based on the isuzu trooper pickup trucks actyon sports 2006 present replaced the musso sports ; also known as korando sports from 2012 musso sports 2002 2005 replaced by the actyon sports vans rodius stavic 2004 present istana 1995 2003 licensed copy of the mercedes benz mb100 luxury cars chairman w 2008 present was sold alongside the chairman h chairman h 1997 2014 based on the mercedes benz w124 kallista 1992 rebadged panther kallista trucks and buses da truck based on nissan diesel truck sy truck based on mercedes benz trucks transtar based on mercedes benz buses see also edit companies portal list of korean car makers mahindra group economy of south korea references edit a b c d annual report 2013 . korean automobile industry pdf . korea automobile manufacturers association . isbn 978 89 8056 042 4 . archived pdf from the original on 2013 08 22 . retrieved 2013 08 21 . a b c d e 2012 consolidated financial statements pdf . ssangyong motor . retrieved 2013 08 22 . ssangyong motors . smotor.com . retrieved 2011 02 25 . a b nandini sen gupta tnn feb 16 2011 12.56 am ist 2011 02 16 . m & m seals 470m ssangyong deal the times of india . timesofindia.indiatimes.com . retrieved 2011 02 25 . cs1 maint multiple names authors list link seo sookyung 2010 10 13 . mahindra may complete acquiring ssangyong controlling stake in early 2011 . bloomberg.com . retrieved 2011 02 25 . south korea s watchdog nods mahindra buy of ssangyong . livemint.com . 2010 10 29 . retrieved 2011 02 25 . 1 archived april 14 2009 at the wayback machine . dastidar surajit ghosh 2011 . mahindra and mahindra s acquisition of ssangyong motor company pdf . vidwat journal . ebsco publishing . 4 2 31 38 . issn 0975 055x . retrieved 2013 08 22 . a b 2 archived december 29 2008 at the wayback machine . musso mercedes match was a rocky road www.drive.com.au . drive.com.au . 2000 05 18 . retrieved 2009 09 19 . david morley 2000 05 18 . musso mercedes match was a rocky road . fairfax media . retrieved 2011 03 21 . jonathan hawley 2004 07 04 . old fashioned values . fairfax media . retrieved 2011 03 21 . bruce newton 2005 05 10 . ssangyong chairman cm600s . fairfax media . retrieved 2011 03 21 . bruce newton 2006 05 31 . ssangyong kyron . fairfax media . retrieved 2011 03 21 . feb. 24 2011 2009 01 09 . article from . marketwatch . retrieved 2011 02 25 . inside joongang daily . joongangdaily.joins.com . 2009 08 14 . retrieved 2009 09 27 . s.korea co ssangyong motor awaits key ruling on turnaround plan . tradingmarkets.com . retrieved 2011 02 25 . sebastian blanco 2009 10 12 . report saic stole hybrid technology says ssangyong . autoblog green . retrieved 2011 03 21 . . asiae.co.kr . retrieved 2011 02 25 . . news.donga.com . 2009 11 12 . retrieved 2011 02 25 . inside joongang daily . joongangdaily.joins.com . 2010 03 24 . retrieved 2011 02 25 . saefong myra p. 2010 04 08 . asia follows wall street lower . the wall street journal . end of speculation mahindra enters the fray for ailing ssangyong motor indian cars & motorcycles blog . indiancarsbikes.in . 2010 05 17 . retrieved 2011 02 25 . business finance news currency market news online uk currency markets financial news interactive investor . iii.co.uk . retrieved 2011 02 25 . mahindra chosen preferred bidder for ssangyong motors . sify.com . 2010 08 12 . retrieved 2011 02 25 . update mahindra aims to complete ssangyong acquisition in four months . the wall street journal . 2010 08 25 . dead link mahindra reportedly inks deal to buy ssangyong for 463m . autoblog . 23 november 2010 . retrieved 23 november 2010 . batchelor james 24 december 2014 . ssangyong reveals tivoli small suv in production form . auto express . retrieved 25 february 2015 . external links edit wikimedia commons has media related to ssangyong vehicles . ssangyong motor company english homepage ssangyong motor company australian homepage v t e ssangyong motor company current vehicles cars chairman w pickup trucks actyon sports korando sports dz & rok crossovers suvs actyon actyon mal & sgp korando c kyron luvi dk musso in new actyon in new actyon rus & kz new korando in nomad kz rexton ii euro in rexton w tivolan prc tivoli tivoli xlv egy & uk x100 mq xlv vans korando turismo rok & vn rodius stavic turismo ir & uk historic vehicles actyon korando rok chairman chairman h family eu istana kallista korando ec korando family rok korando k9 mj fr musso libero vn musso sports musso sut rok rexton rexton ii rodius euro tradie aus historic commercial vehicles da truck istana hr bus sy truck transstar concept models amao c200 c.e.o ccr 1 chairman limousine crossut crs e xiv entertain hemos istana camera van kev2 korando camping car korando frp hardtop la okean liv 1 rodius limo siv 1 siv 2 solo 3 solo le mans sut 1 sv r w coupe wz xav xav adventure xct xiv 1 xiv 2 xiv adventure xiv air xlv xlv air xmt former subsidiaries dong nissan diesel trucks ssangyong aero bus v t e ssangyong motor company automobile timeline 1980s present type 1980s 1990s 2000s 2010s 0 1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 full size luxury car chairman h chairman w mini suv korando i korando ii compact suv actyon korando iii mid size suv korando family musso kyron rexton i rexton ii pick up musso sports actyon sports large mpv istana rodius roadster kallista links