 "Ssangyong")
A consortium led by South Korean electric carmaker Edison Motors Co has agreed to acquire debt-ridden SsangYong Motor Co Ltd for 305 billion won ($254.65 million), SsangYong Motor said on Monday.
SsangYong is burdened with high debt and its vehicle sales last year fell to 84,496, down about 21% from a year earlier, a regulatory filing from the automaker showed.
The automaker reported a January-September 2021 operating loss of 238 billion won from revenue of 1.8 trillion won.
SsangYong has been under court receivership since April in an attempt to rehabilitate the carmaker after majority owner Mahindra and Mahindra failed
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