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SsangYong Motor to Enter Saudi Arabia through Local Assembly Production
Rexton Sports, Rexton Sports Khan to Be Assembled in Saudi Arabia
SsangYong Motor to Enter Saudi Arabia through Local Assembly Production
  • By Michael Herh
  • October 11, 2019, 09:37
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Ye Byung-tae (left), CEO of Ssangyong Motor and Fahd Al-Dohisi, president of SNAM sign an agreement for local assembly production at the latter’s office in the Jubeil Industrial Complex in Saudi Arabia on Oct. 10 (local time).

SsangYong Motor announced on Oct. 10 that it will enter the Saudi automotive market with a license agreement for local assembly production with Saudi National Automotive Manufacturing Co. (SNAM).

The two companies held a license signing ceremony at the SNAM office in the Jubeil Industrial Complex in Saudi Arabia on Oct. 8 (local time) in the presence of SsangYong Motor CEO Ye Byung-tae and SNAM president Fahd Al-Dohisi.

Under this agreement, SNAM plans to assemble SsangYong's Rexton Sports and Rexton Sports Khan in Saudi Arabia beginning in 2021, and expand production volume to 30,000 units in the future.

SsangYong plans to provide technical support for plant construction, installation of production facilities, parts supply and localization of parts.