SsangYong Motor announced it had signed a licensing agreement allowing Saudi National Automobiles Manufacturing Company (SNAM) to assemble its vehicles in from KD units.
The agreement allows SNAM to assemble up to 30,000 'knocked down' kits of the Rexton Sports and Sports Kahn SUVs per year at the Jubail industrial complex in the east of the country from 2021.
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Ssangyong, 72.8% owned by Mahindra & Mahindra, hopes the agreement with SNAM will help increase its market share in the country and possibly also in other markets in the region.
It currently exports the G4 Rexton flagship SUV and the Korando and Tivoli models to Saudi Arabia from South Korea.
SsangYong sold a total of 101,436 vehicles globally in the first nine months of 2019, down by 4.9% on the same period of last year. Domestic sales were down by 2.2% at 78,072 units in this period, while exports declined by 9.8% to 24,174 units.
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By GlobalData
