Perhaps some of you might have hear about Volkswagen, which currently owns brands like Audi, Bugatti, Bentley, Seat or even Lamborghini. But it seems that the leader of the large corporation, Ferdinand Piech, isn’t content with all of these groups under his umbrella and is eying South Korean SUV maker Ssangyong.
Yes, you read right, Ssangyong, the corporation which is now in bankruptcy and under some severe cost cutting measures, might be purchased by one of the biggest automakers in the world. A big part of the motivation behind Piech’s actions relate to the plants that Ssangyong owns, which can produce around 250,000 cars per year, and which might be modified to produce other models from the VW corporation, right in the Asian continent. Also, unbeknown to many Europeans is that Ssangyong currently owns and is developing plenty of new electric technologies, thanks to the big industry segment of South Korea.
The new purchase seemingly has all of the right attributes to take place as the current owner of Ssangyong, SAIC, revealed that it doesn’t want to take helm of the South Korean manufacturer once more without a reliable partner, and guess who currently has no obligations? Yeah, Volkswagen.
All we can do though is wait and see if this transaction will actually take place or if VW will target another Asian automaker.
Read More: “Volkswagen targets Ssangyong for new purchase”
Source: TheTruthAboutCars
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