News Formal

Mahindra scraps SsangYong investment plan due to COVID-19 crisis

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 66%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

India's Mahindra and Mahindra Ltd will not invest further in its struggling South Korean unit SsangYong Motor Co , the company said on Friday, as ...

India's Mahindra and Mahindra Ltd will not invest further in its struggling South Korean unit SsangYong Motor Co , the company said on Friday, as automakers try to save cash in an effort to ride out the coronavirus crisis.

Mahindra also said it has asked majority-owned SsangYong Motor to look for other means of funding as coronavirus-driven restrictions in India exacerbated a slowdown in demand, with Mahindra posting an 88per cent plunge in March sales.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Airline industry braces for lengthy recovery from COVID-19 crisisA full airline industry recovery from the coronavirus looks prolonged at best, analysts said, as new data showed international seat capacity had ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »