SsangYong Motors announces acceleration of development program

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SsangYong has announced it is to accelerate its new vehicle development program to place the company in a better position for the future.

The auto maker states that the decision will help meet the growing demands of the international automotive market, with the move acting as a self-rescue plan for the company, which will be “the driving force” at the center of future mergers or acquisitions (M&A).

By doing so, the South Korean company hopes it will build brand confidence and achieve growth, to quickly end what SsangYong has described as its “rehabilitation procedures”.

SsangYong believes that new car development is key to this, and at present is continuing to carry out the process through a series of cost-reduction measures and production and human resource management.

Recently, the South Korean manufacturer’s first electric vehicle, the Korando e-Motion, the country’s first mid-size electric SUV, went into full-scale production. SsangYong has also announced that it is accelerating the development of its next EV offering, under the project name J100, another SUV set to launch in 2022.

“We are establishing a strong foothold for corporate rehabilitation through a successful M&A and putting our very best efforts into new car development by addressing the rapidly changing automotive trends,” commented Yong Won Chung, SsangYong Motors receiver.

“In addition, we are expanding the line-up of eco-cars, discovering future growth opportunities such as new business models, and preparing for renewed competitiveness.”

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After spending the past six years working as a mechanic for various motorsport and high-end performance car companies, Callum recently joined UKi Media & Events as an assistant editor. In this role he will use his vast practical knowledge and passion for automotive to produce informative news pieces for multiple vehicle-related sectors.

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