[THE INVESTOR] SsangYong Motor announced on Feb. 12 that it has signed a product licensing agreement with Indian carmaker Mahindra & Mahindra to export its large-sized premium sport utility vehicle G4 Rexton to India.
Mahindra & Mahindra currently owns a 72.85 percent stake in SsangYong Motor.
Mahindra Group Chairman Anand Mahindra(left) and Ssangyong Motor President Choi Jong-sik(right)
“Going forward, SsangYong and M&M will work hard to generate synergy on various aspects such as platform development and overseas market presence,” CEO of SsangYong Motor Choi Johng-sik said in a statement.
The production of the G4 Rexton in M&M’s Chakan plant in India will begin during the second half of 2018.
M&M has pinned high hopes on the G4 Rexton as it received positive reviews from Indian media when it was unveiled at the Auto Expo in Delhi early this month. Toyota’s Fortuner and Ford’s Endeavour are cited as its key competitors in the market.
Since its Korean debut in May 2017, the G4 Rexton is leading the full-sized premium SUV segment. The Indian launch comes as the car is already being sold in countries such as Bulgaria, Hungary, Peru, New Zealand and Vietnam.
By Song Seung-hyun (firstname.lastname@example.org)