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THE INVESTOR

Automobiles

SsangYong Motor reenters Saudi Arabia after 4 years

  • PUBLISHED :May 17, 2017 - 13:46
  • UPDATED :May 17, 2017 - 13:46
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[THE INVESTOR] SsangYong Motor said on May 17 it has reentered Saudi Arabia after a four-year absence, to expand into the Middle East market.

The sport utility vehicle-centered carmaker withdrew from the oil rich country in 2013 but the following year it began preparations to reenter it, a company spokesman said, without giving the reasons of the withdrawal.

Early this week, SsangYong Motor opened a showroom in the capital city of Riyadh to initially sell its Tivoli and Korando SUVs, the company said in a statement.

It came after the carmaker signed a contract with Abdullah Saleh Al Bazie Automotive, a local car dealership, early this year to export its flagship SUVs to the kingdom, it said.

To make further make inroads into the untapped market, SsangYong had taken further steps in February by signing a license contract with a local car manufacturer.

By Alex Lee and newswires (alexlee@heraldcorp.com)
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