SEOUL, Feb. 3 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Thursday it will launch its first all-electric SUV model in the domestic market.
In the past three weeks, SsangYong Motor received 3,500 units of the Korando e-Motion subcompact SUV in preorders, with the new model set to be launched Friday, the company said in a statement.
The Korando e-Motion SUV is equipped with LG Energy Solution’s 61.5 kWh lithium ion battery and can travel up to 307 kilometers on a single charge, it said.
The zero-emission SUV carries some safety features, such as lane departure warning, lane keeping assist, front vehicle start alert and driver attention warning systems.
The model is priced at 39 million won-46 million won (US$32,000-$38,000) depending on options. With government subsidies, it will be available at less than 30 million won, the statement said.
SsangYong’s net losses narrowed to 292.9 billion won in 2021 from 504.34 billion won a year earlier on companywide drastic cost-cutting efforts.
Its vehicle sales fell 22 percent to 84,106 units last year from 107,324 a year ago amid the pandemic and chip shortages.
SsangYong’s lineup consists of the Tivoli, Korando, Rexton and Rexton Sports SUVs.