Ssangyong Aims to Enter US Market in 2019
South Korea’s fourth largest automaker is planning to enter the U.S. market as early as 2019.
Owned by India’s Mahindra & Mahindra, rumors and speculation of Ssangyong joining the U.S. market have been whispered over the years but this is the first time the company’s CEO has put a timeframe to it.
CEO Choi Johng-sik says Ssangyong is readying a “make or break” entry under a new company name, although his comments contradict what Mahindra executive director Pawan Goenka told Reuters. Goenka previously said that plans for Ssangyong to enter the U.S. market were “somewhat on the back burner,” and the company’s priority is to manufacture vehicles in China.
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One source familiar with the matter told Reuters that Ssangyong Motor executives may not be on the same page as Mahindra when it comes to the U.S. market. The Korean automaker is trying to expand overseas to combat a slump in Russia, one of its key markets.
An investment of over $100 million will be made, said the CEO, adding that the company has three to four years to prepare for the entry, starting with the midsized SUV SIV-2.
[Source: Reuters]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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