Gasgoo.com (Shanghai June 18) - Pang Qinghua, chairman of Pangda Automotive Holdings, has agreed to cooperate with Korean automobile maker SsangYong Motor, the Beijing Times reported today. The two parties signed an agreement last week at SsangYong's factory in Pyongtaek, South Korea. Pangda will become Ssangyong's official dealer in 21 provinces in the country.
Pangda has recently signed an agreement with Spyker to invest in ailing automobile maker Saab. Pangda is also the official dealer for Zhongyi Subaru. The announcements led many to speculate that Pangda was testing the waters before entering the world of vehicle manufacturing. However, Pangda has denied the news, saying that it would exclusively remain a dealer networking company.
