AM Online

SAIC to invest in SsangYong

SAIC has announced it will invest £227.3 million in SsangYong this year.

Jiang Zhiwei, SAIC deputy CEO said the investment dismissed rumours that SAIC was planning to sell Ssangyong.

"We plan to save new car development costs for SsangYong Motor by cooperating with research centres in China and Europe," he said.

SAIC yesterday increased its stake in SsangYong from 50.9% to 51%.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.