SAIC: no comment on Sollers bid for Ssangyong

Shanghai, January 19 (Gasgoo.com) SAIC said it has no more to say about Ssangyong than that it is awaiting the court ruling on how to deal with the Korean carmaker's assets since Ssangyong entered into court receivership, the Shanghai Securities Journal reported today.

The comment came as a Russian automaker called Sollers showed intention to buy the production rights for three Ssangyong SUV models and is also looking to take over South Korean carmaker's components manufacturing base.

Sollers already produces the Korean company's Rexton II and Kyron SUVs in Russia through a licensing agreement, and the deal would reportedly secure the uninterrupted production of Rexton II and Kyron SUVs in the Far East, completely independent of Ssangyong.

In 2008 Sollers assembled a total of 148,000 Ssangyong vehicles. But industry analysts say Sollers is not capable of producing Ssangyong models independently because of the brand's low localization rate.