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.

Related China Bus News

• Zhongtong Electric City Buses Enable Portugal to Move Closer Towards Zero-Emission Transport 02-27
• Vietnam Warmly Welcomes 207 Units Golden Dragon City Buses on its Road 02-26
• 1,022 Zhongtong Buses to Arrive in Saudi Arabia for Operation 02-22
• 400 Units Foton AUV School Buses Start Operation in Beijing 02-22
• Zhongtong Bus Sales Jump by 81.49% in January,2024 02-20
• Ankai Embraces 2024 by Delivering G9 Buses to Saudi Arabia for Operation 02-19
• Zhongtong Electric Buses Provide Smooth Transportation Services for Africa Cup of Nations 2023 02-18
• Ankai Bus & Coach Sales Up by 169.33% Year on Year in 2023 02-18
• Golden Dragon Bus Overseas Sales Reached a New Record High in 2023 02-05
• 120 Units Zhongtong Electric City Buses to Start Providing Greener Transportation Services in Singapore 01-30
• Higer Overseas Sales Revenue Grew by 70.59% to Reach a New Record High 01-30