M&M's Ssangyong Motor signs LOI with Shaanxii Automobiles Group of China
DSIJ Intelligence / 12 Oct 2016
Ssangyong Motors has announced on October 12, its strategic tie up with Shaanxii Automobiles group of China. According to the tie up conditions Ssangyomg Motors will first establish an overseas CBU production plant in XI’an economic & technology development zone in China.
Ssangyong Motors has announced on October 12, its strategic tie up with Shaanxii Automobiles group of China. According to the tie up conditions Ssangyomg Motors will first establish an overseas CBU production plant in XI’an economic & technology development zone in China. The production facility will initially target production for 1,50,000 units till 2019 with plans to expand the production to 3,00,000 units.
The manufacturing facility is strategically located in a growing market in China and can help company to become a strong global SUV manufacturer. Ssangyong Motor Company is a part of Mahindra group. The company announced that such a tie up was essential to help company grow in China market.
Mahindra & Mahindra has inched up by almost 8 per cent in one year. Over a six-month period the stock is up by almost 11.81 per cent. The 52-week high for the stock is Rs 1508 per share.
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