It seems that South Korean carmaker Ssangyong will avoid entering into liquidation, as a court in its native country has finally approved its revival plan, meaning that it will avoid the worse case scenario of closing its doors and selling off its assets.
As you may remember, the South Korean company, which specialized in SUVs, has been through a lot of difficult things in the last year, with investors bailing out on it and workers going on huge strikes in order to prevent job cutting.
After this great piece of news for Ssangyong, it seems that the revival plan the company has presented will go into full effect, and will once again make it profitable. The new C200 crossover will reportedly lead the way at the beginning of next year when it will finally be launched. The new crossover was expected to be revealed at the Frankfurt Motor Show, but due to the financial turmoil, it was postponed.
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