M&M to invest Rs 3,000 crore in Korean Arm SsangYong

Date posted: Thursday 13 February 2020

Mahindra and Mahindra (M&M) said it has charted an investment of Rs 3,000 crore over the next three years for its subsidiary SsangYong as a financial break even eludes the South Korean maker of SUVs and pickup trucks amidst a slowdown in its home and export markets. The company estimates that a full recovery of SsangYong will cost 450 to 500 billion South Korean won (Rs 2,700-3,000 crore) and that the funding will be secured by end of March. Of this, about 200 billion won will be for servicing older loans.

(Economic Times)