SsangYong Motor To Foray Into US Market In 2019 - Overdrive
n18

SsangYong Motor to foray into US market in 2019

09 Mar 2016 / 0

Choi Johng-sik, the CEO of SsangYong Motor has said that the company is getting ready to enter the US market in late 2019. The South Korea based automobile manufacturer is also planning to change its name and invest around 100 million dollars for the same.

“It is true that there are many concerns about the U.S. entry. We think the U.S. project will make or break our company. So we’ll have full discussions with Mahindra,” said Choi. Mahindra themselves burned their hands the first time around in 2010 while entering the US market. They now sell tractors in North America. Choi also said that the company hasn’t finalised a date yet for entering the US market.

SsangYong Tivoli (4)

The company intends to manufacture cars even in China and Russia since both nations have levied high tarrifs on imported vehicles. He also said that SsangYong Motors is currently in talks with different China based firms including Geely Automobile Holdings Ltd and Cherry Automobile Co Ltd to manufacture its cars in the country.

He also expects the company to finally register profit this year which would be its first since 2007. Mahindra and Mahindra own a 70 per cent stake in SsangYong Motor which they acquired in 2011.

Source



To stay at the cutting edge of automotive news in India, follow Overdrive on Twitter (@odmag) or on Facebook (facebook.com/odmag). Or download our app from the iOS or Android app stores today.


Find your next car
OR
opinion
Shubhabrata Marmar
quote
23 Jun 2017
Income lax department
Should someone earning a living from a vehicle get priority at...
Bob Rupani
quote
15 Jun 2017
The lal batti and VIP culture
The government has banned the ‘lal batti’ or red beacon...