SAIC Urges Resume Business

News from SAIC Motor Corp reports that it will continue to work toward the normal business operation of debt-ridden Ssangyong after the South Korean automaker was put into bankruptcy protection by a Seoul court.

 

According the court that SAIC will still retain its interests in Ssangyong's assets. SAIC hopes the two sides will map out and implement a "practical business revival plan" to put Ssangyong back on track as soon as possible.

 

South Korea-based Ssangyong is facing a serious liquidity crisis amid a global recession. Its sales tumbled 30 percent to 92,665 vehicles last year. Customers shunned its gas-guzzling autos in favor of more fuel-efficient ones.

 

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