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SsangYong Motor Company

 
Hoover's Profile: Ssangyong Motor Company
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Contact Information
Ssangyong Motor Company
150-3, Chilgoi-dong
Pyongtaek, Gyeonggi 459-711, South Korea
Tel. +82-31-610-1114
Fax +82-31-610-3700

Type: Public
On the web: http://www.smotor.com
 Employees: 7,226

This automaker may be small (South Korea's smallest behind both Hyundai and Kia), but Ssangyong Motor still likes to get out and play with the big boys. The company manufactures mostly SUVs, with models that include the Actyon, Kyron, Rexton, Rodius/Stavic, and a luxury sedan called the Chairman. It has single sales offices in Angola, Colombia, Cyprus, Australia, Bosnia, Bangladesh, and Bahrain along with about two dozen sales locations in China. It also offers parts and repairs at its retail shops. China-based Shanghai Automotive Industry Corp. (SAIC) owns just over 50% of Ssangyong Motor, which in early 2009 filed for bankruptcy protection.

Key numbers for fiscal year ending December, 2008:
Sales: $3,431.3M

Officers:
President and CEO: Hyung-tak Choi
Managing Director Marketing: Auto Manufacturing

Competitors:
GM Daewoo Auto & Technology
Hyundai Motor
Kia Motors

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Wikipedia: SsangYong Motor Company
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SsangYong Motor Company
Founded 1954
Headquarters Seoul, South Korea
Key people Hyung-Tak Choi, CEO
Industry Automotive
Products Automobiles and Commercial vehicles
Parent Shanghai Automotive Industry Corporation
Website smotor.com
SsangYong Motor Company
Hangul 쌍용자동차
Hanja 雙龍自動車
Revised Romanization Ssangyong Jadongcha
McCune–Reischauer Ssangyong Chadongch'a

SsangYong Motor Company (Hangul: 쌍용자동차; Hanja: 雙龍自動車) is the fourth largest South Korean automobile manufacturer.[1] The name SsangYong means double dragons.

Contents

History

It was founded as Hadonghwan Motor Company in 1954 and started by building jeeps for the US Army. Beginning in 1976, Hadonghwan produced a variety of special purpose vehicles. After changing its name to Dong-A Motor in 1977, it was taken over by Ssangyong Business Group in 1988 and changed its name to SsangYong Motor.

In 1991 it started a technology partnership with Daimler-Benz. Later, it acquired United Kingdom-based specialty car maker Panther Westwinds.

In 1997 Daewoo Motors bought a controlling stake from the Ssangyong Group, only to sell it off again in 2000, because the conglomerate ran into deep financial troubles. In late 2004, the Chinese automobile manufacturer SAIC took a 51% stake of SsangYong Motor Company.

In January 2009, after recording a $75.42 million loss, the company was put into receivership. This may have been due to the global economic crisis and shrinking demand.[2] Company employees and analysts have also blamed SAIC for stealing technology from the company and failing to live up to its promise of continued investment.[1] SAIC denied allegations of technology theft made by company employees,[2]. However, SAIC was charged by the South Korean prosecutor's office for violating company regulations and the South Korean law when it ordered and carried out the transfer of Ssangyong's proprietary technology developed with South Korean government funding over to SAIC researchers.[3]

As of the 08/09 English football season, SsangYong are the main sponsor of former British Gas Business (Southern) Premier League and current Blue Square North League club, Gloucester City A.F.C. They recently signed a new 1 year deal, ensuring their sponsorship until the 10/11 English football season.[3]

On August 14, 2009, worker strikes finished at the SsangYong factory and production commenced again after 77 days of riots.[4]

Model lineup

Passenger cars and SUVs

SsangYong C200 eco at 2009 Barcelona Motorshow.

Commercial vehicles

See also

References

  1. ^ Ssangyong Motors
  2. ^ Article from MarketWatch
  3. ^ "Gloucester City Football Club". Gloucestercityafc.com. http://www.gloucestercityafc.com/Ssangyong%20sponsorship.html. Retrieved 2009-09-27. 
  4. ^ "INSIDE JoongAng Daily". Joongangdaily.joins.com. 2009-08-14. http://joongangdaily.joins.com/article/view.asp?aid=2908767. Retrieved 2009-09-27. 

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