S.Korea Ssangyong abandons joint Chinese plant plan

Newswire

SEOUL, March 28 (Reuters) - Ssangyong Motor Co. , a South Korean sport utility vehicle (SUV) manufacturer, has dropped plans to build a joint plant in China due to government regulations, Ssangyong's chief executive said on Tuesday. Ssangyong, owned by China's Shanghai Automotive Industry Corp., had planned to construct a joint factory with its Chinese shareholder. "The plan hit a snag because of strict Chinese government regulations. We are seeking a variety of alternatives," Choi ...

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