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Company formerly owned by Mahindra went bankrupt, now changing name to avoid defamation

In September 2021, Ssangyong reported an operating loss of 238 billion won. Edison Motors pulled out of Ssangyong in 2022 after which the company was sold to KG Group. Presently this company holds ownership rights on SsangYong.

Mahindra's formerly owned car company went bankrupt, now changing name to avoid infamy

Company will soon change name

KG Group wants to change the name of Ssangyong to save it from bad name. According to the information, soon the name of Korean car manufacturer Ssangyong will be changed to KG Mobility. In a recent statement to the media, SsangYong CEO Ji-Sun Kwak said that SsangYong has a good history but also a painful image. Now all the cars of Ssangyong will come in front of the world under the name of KG. Even after changing the name, the history of Ssangyong Motor will not change and (it) will have the same conditions.

Mahindra's formerly owned car company went bankrupt, now changing name to avoid infamy

the company went bankrupt

Ssangyong was declared bankrupt in Korea in 2020 after being unable to repay a debt of around 100 billion won. In the same year, Mahindra & Mahindra sold most of the shares of this brand to Edison Motors. However, KG Group later came to the rescue of Ssangyong.

Mahindra's formerly owned car company went bankrupt, now changing name to avoid infamy

Mahindra and Ssangyong cars

Mahindra had launched a few models in the Indian market in partnership with the Korean brand Ssangyong. These models were great but could not show their magic. Mahindra’s first car to partner with Ssangyong was the Mahindra Alturas G4, which was inspired by the Ssangyong Rexton. In this car, Mahindra used the engine of Ssangyong Rexton.

Mahindra's formerly owned car company went bankrupt, now changing name to avoid infamy

Apart from this, Mahindra also launched its SUV XUV300 based on Ssangyong Tivoli. Mahindra continues to love the XUV300 even today, while the company has discontinued the Alturas G4 due to low sales.

Mahindra's formerly owned car company went bankrupt, now changing name to avoid infamy

There were also reports that Mahindra was looking at introducing a 7-seater version of the XUV300 based on the Ssangyong Tivoli XLV. However, with the sale of Ssangyong, Mahindra is no longer expected to launch any vehicle in partnership.

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