'Corporate Rehabilitation Self-Rescue Plan' Follow-up Measures
New Mid-Size SUV J100 Scheduled for Release Next Year
SsangYong Motor announced on the 15th that it plans to launch its first mid-size SUV electric vehicle, the Korando e-Motion, in the European market this October.Photo by SsangYong Motor
[Asia Economy Reporter Ki-min Lee] SsangYong Motor, which submitted a self-rescue plan for corporate rehabilitation procedures, announced on the 15th a follow-up plan to produce and sell electric vehicles and new sport utility vehicles (SUVs). SsangYong Motor aims to secure future growth engines and create a favorable environment for successful mergers and acquisitions (M&A) through this initiative.
First, the new electric vehicle developed under the project name 'E100' was officially named 'Korando e-Motion' and mass production has begun. SsangYong Motor explained that Korando e-Motion inherits the brand value of Korando and combines electric vehicles with dynamism to faithfully appeal to customers' emotions.
Korando e-Motion is the first domestic compact SUV electric vehicle, featuring an overall design with streamlined lines that minimize air resistance. Due to limited production capacity caused by semiconductor supply issues and parts supply conditions from partner companies, SsangYong Motor plans to ship the vehicle in August for a European market launch scheduled in October.
SsangYong Motor announced on the 15th that it has officially begun development to launch the new mid-size SUV model J100 (project name) in 2022.Photo by SsangYong Motor
Additionally, SsangYong Motor plans to accelerate development aiming to launch a new mid-size SUV lineup model called 'J100 (project name)' next year. Based on the essence of a robust and safe SUV, SsangYong Motor intends to produce the J100 with design and performance that match these qualities.
Through this, SsangYong Motor plans to establish a full SUV lineup including the small SUV Tivoli brand, compact SUV Korando, mid-size SUV J100, and large SUV Rexton brand. They also explained plans to diversify the eco-friendly vehicle lineup with mid-size electric SUVs led by Korando e-Motion, as well as electric pickup models responsible for the future.
Jung Yong-won, the manager of SsangYong Motor, stated, "We will accelerate development to lay the foundation for corporate rehabilitation through successful M&A promotion and to advance the schedule for new vehicle launches in response to rapidly changing industry trends." He added, "In addition to expanding the eco-friendly vehicle lineup, we will make every effort to discover new growth engines such as new business models to secure future competitiveness."
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