Home / Auto News / News article: Mahindra Acquires Bankrupt Automaker Ssangyong - AutoGuide.com News
 |  Aug 24 2010, 4:41 PM

India’s Mahindra has nearly completed a purchase of Korean carmaker circus freakshow Ssangyong, maker of the world’s ugliest vehicles.

“We give the takeover candidate (Mahindra and Mahindra) an exclusive right for negotiation, and won’t be involved in any takeover-related activities with a third party,” Ssangyong said in a statement. Financial terms were not announced but some analysts value the deal at roughly $420 million.

Ssangyong, which makes the Rodius minivan and Actyon crossover, was slated to be resurrected by Chinese carmaker SAIC, until the recession caused them to abandon plans for Ssangyong.

[Source: Drive.com.au]

  • Chad

    The PT Cruiser is still uglier, by far.

  • Used Toyota trucks

    Mahindra is really stepping it up on design.it as a great oppurtunity for all it gives an exclusive right for negotiation.

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