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|13th October 2016, 13:22||#1|
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SsangYong enters JV with China's Shaanxi to set up new plant
SsangYong Motor Company, which is currently under the realms of Mahindra & Mahindra, has entered into a Joint Venture with China-based Shaanxi Automobile Group. This JV is a part of SsangYong's plans to set up a manufacturing facility in China and expand its presence in the country's growing market.
Under the said JV, SsangYong and Shaanxi will be setting up a production facility for CBU vehicles, along with an engine plant in the Xi’an Economic and Technological Development Zone in Xi’an, North-West China. By the end of 2019, the first phase of the plant's construction is expected to be completed. This would give SsangYong a production capacity of 150,000 units per year, which will be taken up to 300,000 units with the second phase. This would mark SsangYong's first overseas production base.
The JV will now be focusing on obtaining necessary approvals from SsangYong’s Board of Directors, the governments of Shaanxi Province and Xi’an, and the central government of China. The automaker is hoping to start production at the China plant in the second half of 2019.
Link to Team-BHP News
Last edited by dZired : 13th October 2016 at 13:23.
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