Mahindra has reportedly purchased trouble Korean automaker Ssangyong.

No figures have been revealed on the deal, but analysts estimate that 50 percent of Ssangyong is worth $471.9 million AUD (Around $420.3 million USD).

Ssangyong has been in serious financial issues since 2009, when rising oil prices and slowing demand for SUVs hit them hard. Shanghai Automotive Industry Corp declined to inject more funds, and they have been struggling to stay alive since. However, their future is now a little bit more secure under Mahindra.

Source: Drive.com.au