is burdened with high debt and its vehicle sales last year fell to 84,496, down
about 21 per cent from a year earlier, a regulatory filing from the automaker
showed. The automaker reported a January-September 2021 operating loss of 238
billion Won from revenue of 1.8 trillion Won.
SsangYong has been under court receivership since April in an
attempt to rehabilitate the carmaker after majority owner Mahindra and Mahindra
failed to secure a buyer. Indian automaker Mahindra, which owned about 75 per
cent of SsangYong as at the end of September, has been looking for a buyer for
all or most of its stake, which it bought when the South Korean automaker was
near-bankruptcy in 2010.
Source: The Telegraph Online
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