Ssangyong Motor CO (SYMC), which is the fourth largest auto maker of
South Korea has invested USD 320 million in Tivoli project and would
pump in approximately USD 920 million in the next three years on various
activities to further enhance its position in the market.
"Ssanyong has invested 700 billion won since its M&A (with Mahindra) and would put one trillion won (USD 920 million) in next three years," said Ssangyong Motor Co Chairman of BOD P K Goenka.
Tivoli is the first product to come out of the SYMC stable after Mahindra & Mahindra acquired 70 percent controlling stake in 2011.
The company has launched four versions powered by 1,597 CC petrol engine with price ranging between 16.35 million won (USD 15,000) to 23.47 million won (USD 21,500). The diesel engine based models would come in July.
"Tivoli is a strategic global model which SYMC has developed with great devotion in the past four years after the acquisition. It will be a cornerstone for the company to become a global SUV maker," SYMC CEO Yoo-il Lee said.
"Ssanyong has invested 700 billion won since its M&A (with Mahindra) and would put one trillion won (USD 920 million) in next three years," said Ssangyong Motor Co Chairman of BOD P K Goenka.
Tivoli is the first product to come out of the SYMC stable after Mahindra & Mahindra acquired 70 percent controlling stake in 2011.
The company has launched four versions powered by 1,597 CC petrol engine with price ranging between 16.35 million won (USD 15,000) to 23.47 million won (USD 21,500). The diesel engine based models would come in July.
"Tivoli is a strategic global model which SYMC has developed with great devotion in the past four years after the acquisition. It will be a cornerstone for the company to become a global SUV maker," SYMC CEO Yoo-il Lee said.
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