Thursday, March 15, 2012
By Pawan Rana
Ssangyong on strong growth trajectory, to launch two cars in India
The South Korean SUV leaders, Ssangyong Motor Company (SYMC) is now looking ahead for its growth and expansion, after it was been captured a year ago by the US$ 14.4 billion Mahindra Group. Now headed by the prominent Indian auto-unit, Ssangyong has initiated to make it more strengthened and comprehensive automobile unit. Now, Ssangyong is looking forward to launch soon two new cars on the domestic shores i.e. the Ssangyong Mahindra Rexton and the Ssangyong Mahindra Korando.
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President and CEO, Ssangyong Motor Company, Mr. Lee Yoo-il stated that for a year Ssangyong along with M&M has been primarily focusing for the expansion of the company. He added that this would include proceeding with a new vision and a long term planning, healthy relationship with the employees, cooperation amongst the labours, vendors & dealers. He also stressed that the mutual relationship of M&M and Ssangyong would also looking for the revamped versions of Chairman W, Chairman H and Korando Sports. The official also conveyed that in 2011 Ssangyong attained bewildering sales growth of nearly 40 percent.
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Chairman Ssangyong Motor Company and President Automotive & Farm Equipment Sectors, Mahindra & Mahindra Ltd, Dr. Pawan Goenka stated that since March 2011, they have agreed to invest over Rs. 1780 crores (KRW 400 billion) for a new SYMC manufacturing fleet and plants that includes investment of Rs. 1317.20 crores (KRW 296 billion) for a next generation compact CUV and a new engine, in order to make a strong presence in the international markets. He added that they are planning to introduce the Ssangyong products in the booming Indian auto-market.
Ssangyong has witnessed with many milestones in last one year. The SYMC group also designated a well experienced Board of Directors, that includes 50% independent directors and these functional bodies are expected to bless the organization with highest standards of corporate governance. Earlier, at the Auto Expo Delhi 2012, the company unveiled the Ssangyong products that are expected to mark their presence on the domestic shores soon.