- The head of India’s Mahindra and Mahindra Ltd. has ruled out plans to pull out of South Korea’s troubled SsangYong Motor Co., the carmaker said Wednesday.
- Pawan Goenka, managing director and CEO of the Indian conglomerate, gave the assurance during a video conference with Yea Byung-tae, president and CEO of SsangYong Motor, and SsangYong’s union leader on Monday.
- SsangYong has struggled with worsening performance since 2017, when it shifted to a net loss of 66 billion won from a net profit of 58 billion won the previous year.