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Ssangyong To Invest $1.2 billion In India
Ssangyong is not the first automaker to consider India as an ideal export base. Nissan, Hyundai and Yamaha have had a successful run as auto exporters. Ssangyong will be developing new models in the next few years that will be built in its India plant.
The Korean SUV specialist will soon launch two of its models in INDia, the Rexton and the Korando C. The carmaker is also jointly developing a sub compact car along with Mahindra that is expected to be priced around Rs.4 lakhs.
Choi Jong-sik, Ssangyong's vice-president, sales, while announcing the carmaker's plans said: “If you see manufacturers like Hyundai, they are exporting cars to many countries; so possibly, we may explore such opportunities in future. We know the cost of manufacturing is lower in India, but the quality should be of international standards."
The Rexton and the Korando C are also expected to get an Indian touch as Mahindra is looking at India parts vendors to reduce costs. Ssangyong is keen to boost its presence in India considering it is now owned by an India company.
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