Ssangyong may produce SUV in China in H2
Ssangyong Motor Co <003620.KS> may start production of a sports utility vehicle (SUV) in China in the second half of 2008 as it expects the country to approve a joint venture with its top shareholder SAIC, Ssangyong's president said.
By Agencies |
BEIJING:Ssangyong Motor Co <003620.KS> may start production of a sports utilityvehicle (SUV) in China in the second half of 2008 as it expects the country toapprove a joint venture with its top shareholder SAIC, Ssangyong's presidentsaid.
But Choi Hyung-tak, alsoSsangyong's chief executive said that SAIC Motor Corp <600104.SS> and itsSouth Korean unit did not have a plan to build a new plant in the world's No. 2car market even after setting up the joint venture.
"We expect the Chinesegovernment to approve it this year at the earliest. With the approval, we willproduce the Kyron in the second half," Choi told Reuters in an interview late onSaturday ahead of the Beijing Auto Show, refering its SUV model.
Ssangyong and SAIC, which hasa 51.33 percent stake in the South Korean company, have sought a joint venturein China since 2005 and they are waiting for an approval from the country'sgovernment.
Ssangyong isconsidering producing the Chairman W, its top-end sedan, at SAIC in China orexporting its partially-completed car kits to the country to cope with fiercecompetition there.
But Choi Hyung-tak, alsoSsangyong's chief executive said that SAIC Motor Corp <600104.SS> and itsSouth Korean unit did not have a plan to build a new plant in the world's No. 2car market even after setting up the joint venture.
"We expect the Chinesegovernment to approve it this year at the earliest. With the approval, we willproduce the Kyron in the second half," Choi told Reuters in an interview late onSaturday ahead of the Beijing Auto Show, refering its SUV model.
Ssangyong and SAIC, which hasa 51.33 percent stake in the South Korean company, have sought a joint venturein China since 2005 and they are waiting for an approval from the country'sgovernment.
Ssangyong isconsidering producing the Chairman W, its top-end sedan, at SAIC in China orexporting its partially-completed car kits to the country to cope with fiercecompetition there.
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