|Title||SsangYong Motor Signs Contract with Mahindra to Export Rexton to India|
▪ SsangYong signs a license contract with M&M to assemble Rexton at M&M's Chakan Plant in India in H2 2018
▪ The SUV maker expects to set new trends in the large premium SUV market in India and to expand global sales
▪ SsangYong and M&M to generate synergy through joint product, platform development and overseas market entry to further elevate global standing
SsangYong Motor Company (CEO Johng-sik Choi; www.smotor.com/en), today announced that its flagship SUV, Rexton (domestic: G4 Rexton) will be exported to India in kits.
SsangYong has recently signed a product licensing agreement with Mahindra & Mahindra (M&M; Managing Director Pawan Goenka) for the local production of Rexton in M&M's Chakan Plant in India in the second half of 2018.
Based on the agreement, SsangYong plans to respond to the rapid growth of the SUV market in India and expand its global sales.
M&M, on Feb. 8 (local time), unveiled Rexton for the first time on the press day of the Auto Expo 2018 in Delhi, India before the production and launch of the vehicle.
The much-anticipated Rexton has received favorable reviews from the local media for its powerful and refined design, luxurious interior, and various spatial utilities.
Rexton, built on the next-generation frame, is expected to set new trends in the Indian large SUV market featuring advanced interior/exterior designs and will compete against the Toyota Fortuner and the Ford Endeavour. The Rexton W was put on the Indian market back in 2012 and has proved to be competitive.
Anand Mahindra, Executive Chairman of the Mahindra Group, and Pawan Goenka, Managing Director of M&M, attended the 2017 Seoul Motor Show where Rexton was unveiled for the first time. They showed unwavering trust in and satisfaction with Rexton, saying "the best premium SUV heralds the return of the king."
Meanwhile, since its launch in the domestic market in May 2017, Rexton has been at the forefront of the Korean full-sized premium SUV market, positioning itself as the No. 1 brand in the category.
Since late last year, on the back of Rexton, SsangYong Motor has been expanding its market presence in West Europe followed by Eastern Europe (Bulgaria and Hungary), Latin America (Peru and Chile), Oceania (New Zealand) as well as the South East Asian market in countries such as Vietnam.
Johng-sik Choi, CEO of SsangYong Motor Company, commented, "I am delighted to bring Rexton to the Indian market through M&M. The SUV has been recognized for its competitiveness both in Korea and the European-led global market," adding, "Going forward, SsangYong and M&M will work hard to generate synergy on various aspects such as platform development and overseas market presence, thereby further strengthening our position on the global stage."