A consortium led by South Korean electric carmaker Edison Motors has agreed to acquire SsangYong Motor for 305 billion won (US$254.65 million),
The company reported a operating loss of 238 billion in January-September 2021.
SsangYong vehicle sales were lower by 21% last year and the company has been under court receivership since April.
SsangYong Motor will not only focus on existing and mature markets but also develop emerging markets such as Central America, Eastern Europe and even target India and China, the world's largest automobile market.
(With inputs from agencies)
