With current owner Mahindra not willing to invest anymore in the Korean automaker, Ssangyong is currently on a court-led receivership. However, it has determined that as part of any possible future merger or the luring of a new investor, it has to rely on itself first, and this means moving full-scale towards meeting the demands of the future international automotive market.

New car development is central to this, and is being achieved through cost reduction and system efficiencies achieved through production and human resources management.

The first tangible result is the announcement of SsangYong’s first electric vehicle; developed under the project name of E100, the Korando e-Motion went into full-scale production just two days ago.

The Korando e-Motion is the first mid-sized electric SUV vehicle in Korea and offers the spacious interior and convenience of a family car. The overall design is one that offers an urban driving style with aerodynamic lines to minimize air resistance, and a quality driving experience.

However, due to restricted supplies of semi-conductors, affecting all manufacturers, the Korando e-Motion is scheduled to be shipped in August for sale in Europe.

The company has also announced that it is accelerating the development of its next EV, a medium-sized SUV under the project name J100, with the plan of launching in 2022. The design of the J100 will give a new, modern, authentic SUV, with styling cues based on SsangYong’s design language to create a strong and safe SUV.

SsangYong Motors Receiver, Yong Won Chung says: “We are establishing a strong foothold for corporate rehabilitation through a successful M&A and putting our very best efforts into new car development by addressing the rapidly changing automotive trends. In addition, we are expanding the line-up of eco-cars, discovering future growth opportunities such as new business models, and preparing for renewed competitiveness.”