Next in my series on the Korean domestic luxury sector is Ssangyong ( twin dragon) and their Chairman sedan.
Chairman WSsangyong Motor Co., the South Korean unit of China's Shanghai Automotive Industry Corp., has unveiled its new luxury model to compete with foreign brands in the domestic market.
Ssangyong notes that the Chairman W will challenge luxury brands such as BMW and Mercedes-Benz, as well as similar domestic rivals such as Hyundai Motor Co.'s Genesis.
In 2006, Ssangyong became a unit of Shanghai Automotive when the Korean automaker was acquired. Ssangyong has enjoyed a long-standing licensing agreement with Mercedes
Ssangyong will likely to export the Chairman W to China this year, while it is also eyeing the Middle East, Russia and some European countries, said company officials.
The Chairman W will have either a 3.6 or 5-liter gasoline engine and a 7-speed automatic transmission.
The price for the Chairman W with a 5-liter engine was set at 100 million won (US$106,000).