Ssangyong Van Leasing & Contract Hire Lease Deals
SsangYong Motor Company is the fourth largest South Korea-based automobile manufacturer, which is owned by Indian multinational automotive company Mahindra & Mahindra Limited. A 70% share of SsangYong was acquired by Mahindra & Mahindra Limited in February 2011, after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company. Mahindra's acquisition was approved by South Korea's Free Trade Commission. As of January 2019, Mahindra & Mahindra Limited holds a 74.65% stake in the company. SsangYong originally started out as two separate companies; Ha Dong-hwan Motor Workshop (established in 1954) and Dongbang Motor Co (established in 1962). In mid-1963, the two companies merged into Ha Dong-hwan Motor Co. In 1964, Hadonghwan Motor Company started building jeeps for the US Army as well as trucks and buses. Beginning in 1976, Hadonghwan produced a variety of special purpose vehicles. After changing its name to Dong-A Motor in 1977 and taking control of Keohwa in 1984, it was taken over by SsangYong Business Group in 1986. After Dong-A Motor was taken over by SsangYong Business Group, Dong-A Motor changed its name to SsangYong Motor in 1988. In 1987 it acquired United Kingdom-based specialty car maker Panther Westwinds.
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