Ssangyong to Build, Sell Chinese Car in Korea
Ssangyong Motor Company said on Wednesday that it plans to build and sell in Korea a medium-size sedan developed by Shanghai Auto Industry Corporation (SAIC). Called the Roewe 750, it is similar in size and style to the Hyundai Sonata and will be the first Chinese automobile to be sold here.
The retailing of Chinese cars in Korea is expected to begin in earnest, and the Roewe's luxurious styling and premium specifications will likely challenge the cheap image of Chinese cars.
SAIC bought the car's manufacturing facilities from British carmaker Rover and developed the Roewe 750 on its own in China. The model debuted at the Beijing Motor Show in Nov. 2006 and went on sale in China this month.
A top executive at Ssangyong Motor Company confirmed that the company is developing plans to mass-produce the Roewe 750 at its Pyongtaek plant and sell it in Korea from the second half of next year.
In China the Roewe 750 comes with either a 1.8l or 2.5l engine, where it's a premium model selling for 231,800 Chinese yuan (W28 million). Ssangyong plans to add a 2.0l version in Korea, where the models are expected to retail for around W18 million to W22 million, slightly less than similar Korean cars.