Ssangyong Motor Co, the fourth largest car maker of South Korea, has lastly put a timeframe on when it will enter the U.S. market. CEO Choi Johng-sik has actually revealed that the automaker will get into the marketplace by as early as 2019 under a new firm name.
The Korean automaker is broadening its offerings overseas to assist offset its current sales downturn in Russia, the firm’s top market. With a handful of years to prepare, Johng-sik has prepared to invest over $100 million and alter the firm name. The very first vehicle to be offered in the United States will be the SIV-2, a midsize SUV, as the firm has a crucial priority on SUVs.
Apart from breaking into the U.S. market, Ssangyong is likewise in talks to produce automobiles in China, with possible backers including Geely Automobile Holdings Ltd and Chery Vehicle Co Ltd, among others. Ssangyong right now has only one factory in South Korea, however intends to broaden production to 500,000 examples every year. To do this, the automaker wishes to begin producing cars in China and Russia.
Ssangyong is owned by India’s Mahindra & Mahindra. And according to an unnamed source pointed out by Reuters, it’s possible the two firms may not be on the very same page with the strategy yet. Mahindra Executive Director Pawan Goenka had actually stated an automobile for the United States is “rather on the back burner”.