South Korean automaker Ssangyong Motor Company owned by Indian auto major Mahindra and Mahindra (M&M) is planning to establish its manufacturing base in India in order to benefit from low cost production in India. According to Mr. Choi Jong-sik Ssangyong Vice-President (Sales), the company is planning to invest more than Rs. 5,900 crore spanning across three to five years.
The company will introduce its SUV models the Rexton and Korando C in India in 2012 and may develop compact cars and sub-compact SUVs in collaboration with M&M. The company may also explore export opportunities along with manufacturing operations, says Mr. Choi.
Ssangyong is already working on a sub-compact SUV codenamed S101 in the price range of Rs. 3,00,000 to Rs. 4,00,000 in collaboration with M&M which is expected to compete with hatchbacks. The new car being developed will also be considered for export by the company.
