SAIC & Ssangyong venture to come into being

Shanghai Automotive Industry Corporation (Group) (SAIC), one of the largest car groups in China, is counting down the establishment of a 50-50 joint venture with its controlled subsidiary Ssangyong Motor Company of South Korea.
 
The Shanghai-headquartered car group has been holding a 51% stake in the South Korean subsidiary since 2004 and decided in earth 2007 to set up the venture in China as a mid-and long-term strategy of the subsidiary.

Ssangyong plans to promote both the Ssangyong brand and the Roewe brand in major markets and to locate the venture in Shanghai, which is expected to start production as late as before 2011.

The second factory of SAIC in Yizheng in Jiangsu Province will be the manufacturing base of the venture, whose most possible product will be the restyled Ssangyong Kyron SUV.

Ssangyong has exported its four car models, namely Rexton, Actyon, Rodius and Kyron, to China, with Kyron being the best seller of the four.