Mahindra & Mahindra, which has recently completed the acquisition process of the South Korean auto maker Ssangyong Motor Corporation (SMC), has confirmed to roll out a premium car from the portfolio of SMC. It is to be mentioned here that Mahindra Group had recently acquired 70 per cent stake in bankrupt South Korean firm Ssangyong in August 2010 for Rs 2,105 crore.
Speaking to the reporters on the sidelines of a function held in Chennai, Mahindra Group Vice-Chairman and Managing Director Anand Mahindra said, "(After the acquisition) what we are trying to do is to ensure that it will remain a strong Korean brand. Number two it will have a strong financial stability and we will ensure that it will have a long term ownership.”
While further elaborating the company’s plans of rolling out vehicles from SMC portfolio in the Indian market, Mr. Mahindra said that the company is looking to introduce the high-quality premium vehicle in the next 12-18 months. The study is still on, but Ssangyong is very optimistic and Mahindra & Mahindra is very focused on bringing their products to India.
Mahindra has already announced its plans of launching Ssangyong’s global portfolio SUVs in the Indian market.
