Indian owned Ssangyong Motor has announced plans to rebrand the company as it seeks to shed some of its more negative legacies and enter a new era of growth.
The South Korean SUV manufacturer, owned by Mahindra & Mahindra, told local reporters it intends to complete the rebranding process by 2017 – ahead of its planned entry into the US.
Go deeper with GlobalData
A spokesman said a new brand, together with a new emblem, would replace the 30 year old Ssangyong brand after consultations with domestic and overseas staff, as well as members of the public. The Mahindra name would not be part of the new brand, the spokesman also confirmed.
The name change would be the fourth in the company’s history, since its humble beginnings as Ha Dong-Hwan Motor Workshop in 1954. Ssangyong is still a minor player on the domestic and world stage, however.
The company, which is currently also undergoing a product overhaul, reported a 21% increase in global vehicle sales last year to 145,649 units, including 63,970 units in its home market and 81,679 units overseas.
South Korea’s growing number of bilateral free trade partnerships, including with the US and Europe, are also helping the country’s automakers grow overseas.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
