South Korea’s Ssangyong Motor Corp. says it will set up a joint-venture auto plant in China next year for local production of its SUVs. Ssangyong hopes to sign a deal with China’s Jiangling Motor Corp. in January 2003 for the formation of an equal joint venture. The JV likely will begin operations in the second half of 2003, pending approval from the Chinese government. The auto maker reportedly is aiming for annual production of 25,000 units in the first year, doubling capacity to ...
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