Ssangyong Motor Company said it had signed a final contract to export 170,000 semi knocked down (SKD) kits to a Saudi Arabian distributor by 2030, as the South Korean automaker’s recovery from technical bankruptcy and court protection continued to gather pace.

Ssangyong signed a preliminary agreement last January to supply vehicles to Saudi National Automobiles Manufacturing Company over a seven year period starting in 2023.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The final agreement provides for Ssangyong to supply three variants of the new Rexton SUV range for SNAM to complete the final assembly process at a new plant currently being built in the port city of Al Jubail.

Around 30,000 SKD kits will be shipped each year from South Korea from 2023; new business which will be welcomed by the South Korean consortium led by KG Group that is scheduled to complete the acquisition of Ssangyong in October.

The automaker sold 68,926 vehicles in the first eight months of 2022, up 23% year on year, after volume fell 22% to 84,106 units in full year 2021.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now