Day: April 9, 2021

Sinking Ssangyong, Suzuki revival, chips latest – the week | Automotive Industry Comment

Will Ssangyong survive to see another motor show model start?

Is the finish nigh for Ssangyong? Information on just-auto this week does tiny to discourage these types of thoughts. It doesn’t aid assurance much when the CEO bails out, captain fleeing a sinking ship arrives to thoughts. “As securing new investment is getting longer than expected, and as the restructuring process is imminent, extra difficulties and struggles are expected to lie in advance,” CEO Yea Byung-tae claimed in a resignation letter cited by Korean media this week. The letter was sent to workforce and executives at the automaker. “Coming up with resolutions with each other with you could be an solution, but as I deeply sense the shock and allow down you would have felt, I feel it is correct to acquire responsibility as the president who took care of administration so significantly,” the letter continued.

Kudos for admitting defeat.

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