GOYANG, South Korea: India's Mahindra and Mahindra said Thursday it envisions selling vehicles made by Ssangyong Motor in its vast home country and also cooperating with it to expand into Africa as part of a revival plan for the South Korean automaker. Mahindra and Mahindra Ltd., a major Indian sport utility vehicle manufacturer, completed its acquisition of Ssangyong Motor Co. in the middle of March, bringing the South Korean company out of court receivership. Ssangyong filed for bankruptcy protection in early 2009 amid falling sales, mounting red ink and a history of labor strife. The company was once majority-owned by SAIC Motor Corp. until the Chinese company lost management control during the bankruptcy process. Mahindra and Mahindra and Ssangyong announced in November that they had signed an acquisition agreement for the Indian company to take a 70 percent stake. South Korea's fifth-largest automaker mostly manufactures SUVs but also makes the Chairman luxury sedan, the latest version of which was launched Thursday at the 2011 Seoul Motor Show. “The Indian auto market is growing substantially and we hope that will bring benefits to Ssangyong,” Anand Mahindra, vice chairman and managing director at Mahindra and amp; Mahindra, told reporters at the show, held in the city of Goyang, near the capital Seoul. Mahindra said he could not reveal the timing, although he added the company is interested in taking Ssangyong's Korando and Rexton SUVs to India. He also said that the automakers are exploring joint marketing initiatives in other regions. “We think there are huge synergies for us to look at Africa, which is the next frontier for automobile growth,” Mahindra said. “Together with Ssangyong we think we can make headway there.” Ssangyong's history of labor troubles culminated in a 77-day occupation of part of its production line in 2009 by hundreds of workers let go under a plan to slash jobs and stem losses.
