SsangYong sold for $255M to consortium led by EV startup Edison Motors

Following a year-long search, struggling Korean automaker SsangYong has found a buyer. SsangYong on Monday named the buyer as a consortium led by fellow Korean automaker Edison Motors. The consortium has agreed to pay 305 billion won (approximately $255 million) for Ssangyong, whose majority shareholder is India’s Mahindra with a 75% stake. Edison…