#SSANGYONG

Business

SsangYong to Reorganize, Trim Senior Staff

South Korea’s SsangYong Motor Co. tells employees it will restructure in September and reduce its senior staff in February in a sweeping cost-cutting initiative that includes executive salary cuts.

Sales

SUVs Claim 42% of Sales in South Korea

SUV/crossover vehicles captured a record 42% of South Korea’s passenger car market through the first five months of the year.

Hybrid

Mahindra to Hike EV Capacity Nearly Fivefold

Mahindra & Mahindra Ltd. says it will invest 10 billion rupees ($144 million) over three years to hike its annual capacity to make electric cars to 70,000 units from the current 15,000 vehicles.

SsangYong to Add All-Electric Korando SUV

South Korea’s SsangYong Motor Co. says it will offer an all-electric variant of its next-generation Korando SUV/crossover vehicle in 2020.

Sales

SsangYong Motors Returns to Australian Market

South Korean SUV maker SsangYong Motor Co. has reestablished sales operations in Melbourne, Australia, after exiting the market two years ago.

Batteries

Mahindra Forms Battery Tech Alliance with LG Chem

Mahindra & Mahindra Ltd. has partnered with LG Chem Ltd. to develop batteries for use in electric vehicles made in India and South Korea.

Sales

Vehicle Sales Rise Slightly in S. Korea

Car sales in South Korea totaled 613,800 units in January, a gain of 2,400 units from the same period last year, according to company reports.

Assembly

Russia’s Sollers to Open Assembly Plant in Vietnam

Russian carmaker OSJC Sollers confirms it intends to open a low-volume assembly plant in Vietnam in 2018.

Economics

Profits Surge for Russia’s Sollers Group

Russian carmaker Sollers Group reports its net profit in the first half of 2017 zoomed to 575 million rubles ($9.8 million) from 34 million rubles in the same period last year.

Hybrid

Mahindra Mulls Pininfarina-badged Supercar

India’s Mahindra & Mahindra Ltd. may build a high-end electric vehicle that would be marketed under the company’s Pininfarina SpA design unit.

Labor

9% Expansion in 5 Years for S. Korea’s Carmaker Workforce

South Korea’s five carmakers expanded their combined domestic workforce 9% to 126,700 people between 2011 and 2016, according to their annual reports.

Hybrid

Mahindra, SsangYong to Co-Develop EV Platform

India’s Mahindra & Mahindra Ltd. and its South Korean SsangYong Motor Co. affiliate say they are jointly developing a platform to carry electric SUVs that will be marketed by both brands in 2020.

Assembly

Mahindra Plans Its First Overseas Assembly Plant

India’s Mahindra & Mahindra Ltd. tells reporters in Mumbai that it is looking for locations to build its first overseas assembly plant.

Economics

SsangYong Motor Posts First Profit in 9 Years

SsangYong Motor Co. reversed a 62 billion-won loss in 2015 with a net profit of 58.1 billion won ($51 million) in 2016.

Business

SsangYong, Shaanxi Auto to Explore JV in China

South Korea’s SsangYong Motor Co. has signed a letter of intent with Shaanxi Automobile Group to begin jointly vehicle production in China by the end of 2019.

SsangYong Targets 2020 Launch in U.S.

South Korea’s SsangYong Motor Co., which has been flirting with entering the U.S. for several years, says it will launch two small crossover/SUVs in the market by 2020.

Sales

SsangYong Motor Ponders Move into China, U.S.

South Korea’s SsangYong Motor Co. tells Bloomberg News it is evaluating possible moves into the Chinese and U.S. markets, in part to offset an expected sales decline in the U.K. following the kingdom’s vote to exit the EU.

Diesel

Mahindra to Offer Gasoline Engines in All Indian Models

India’s ban in January on diesel engines that displace more than 2 liters has prompted SUV specialist Mahindra & Mahindra Ltd. to announce it will offer a gasoline engine option throughout its lineup by 2018.

Business

Mahindra Shifts SsangYong Focus from U.S. to China

India’s Mahindra & Mahindra Ltd. has suspended plans to introduce its South Korean SsangYong brand in the U.S.

SsangYong Revives Kaiser Name

South Korea’s SsangYong Motor Co. will rename its Chairman W fullsize luxury sedan the Chairman Kaiser when it introduces the redesigned model later this year.

New SsangYong Concept Previews 7-Seat Tivoli SUV

South Korea's SsangYong Motor Co. describes its new XLV-Air concept vehicle as a pre-production version of a long wheelbase, 7-seat variant of its Tivoli crossover/SUV.

Korea’s SsangYong Planning Jeep-like SUV for U.S. Market?

South Korea's SsangYong Motor Co. is developing a highly styled small SUV/crossover to compete in the American market with the Jeep Wrangler SUV, sources tell Autocar.

Ssangyong Eyes U.S. with New SUV

South Korea's Ssangyong Motor Co. is considering a new model that could be sold in the U.S., according to several media reports.

Business

Ford to Take Control of Sollers Venture in Russia

Ford Motor Co. has agreed to take control of its Russian carmaking venture with OSJC Sollers and will provide the partnership with unspecified additional financial support, Reuters reports.