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Mahindra-Ssangyong Pact To Materialize In 2011
The negotiations between Mahindra and Ssangyong is on the process this August as Sssangyong has been making efforts to revive its lost momentum. M&M intends to claim its superiority over Ssangyong in the global car market. Such an attempt was made by the Chinese car maker SAIC but ended up with a paltry 3.8% stake against the proposed 51% stake.
M&M took over the tussle beating the other Indian company Ruia Group and the major purpose is to avail the technology expertise of Ssangyong in diesel engines. By occupying 2% share of SUVs in its homeland of South Korea, Ssangyong has a solid base for its vehicles in Asia-Pacific, Russia, Europe, Middle-East, China, North and South America markets where its exports units are at large scale penetration.
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