Share this article

SsangYong Motor plans to suspend production for several days this month due to shortages of semiconductors, the company announced in a regulatory filing.

The production cuts at its 250,000 units/year plant in Pyeongtaek, 70km south of Seoul, would start on 8 December with production scheduled to resume on 14 December. The company also operates an engine plant in Changwon.

Ssangyong exited a bankruptcy court-led debt rescheduling programme last month after 18 months following the acquisition of a 62% stake in the company by a consortium led by local steel and chemicals firm KG Group. Previous majority shareholder Mahindra & Mahindra of India now owns 10.15% of its shares.

Ssangyong sold 104,566 vehicles globally in the first 11 months of the year, up 39% on depressed year earlier sales, including 41,570 exports.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData