US firm, 2 local firms submit LOIs for SsangYong Motor Posted : 2021-07-30 15:20 Updated : 2021-07-30 16:12 A U.S. vehicle importer, a South Korea builder and a consortium led by a South Korean electric bus maker submitted letters of intent to acquire SsangYong Motor Co., they said Friday. Yonhap A U.S. vehicle importer, a South Korea builder and a consortium led by a South Korean electric bus maker submitted letters of intent to acquire SsangYong Motor Co., they said Friday. U.S.-based Cardinal One Motors, SM Group and Edison Motors Co. joined the race to acquire the financially troubled carmaker to expand their business portfolios.