SsangYong Motor released has the Torres mid-size SUV, which it hopes will help it end a long slump and regain its reputation.
SsangYong Motor is very good at making SUVs and pickup trucks, at least judging by sales in Chile.
A consortium led by KG Mobility has been selected as the final bidder to acquire beleaguered SsangYong Motor.
A Kanglim-led consortium is bidding for SsangYong Motor, bringing the total number of bidders to two.
SsangYong Motor said Wednesday it has signed a conditional investment deal with a local consortium ahead of the auction later this month to find a new investor for the carmaker.
SsangYong Motor, which is in search of a new owner, announced the name of a new vehicle it hopes will pull it out of its business rut. The Korean automaker gave a sneak peek at the exterior of the mid-sized SUV, called the Torres.
A consortium led by KG ETS has been selected as the preliminary bidder for SsangYong Motor, the beleaguered carmaker said Friday.
Three bids have been cast for SsangYong Motor, though numerous variables make it still uncertain whether the beleaguered carmaker will actually find a new owner this time.
Edison EV has filed for bankruptcy, the company said in a regulatory filing Wednesday.
The bidding war to acquire SsangYong Motor is likely to become a one-on-one race between Ssangbangwool Group and KG Group, though at least two more companies have also reportedly showed interest in buying the financially troubled automaker.