Ssangyong to Launch New Chairman W Luxury Sedan Model Globally

Shanghai. December 14 (Gasgoo.com) - South Korea's Ssangyong Motor, a subsidiary of China's biggest vehicle producer SAIC Group, announced on Wednesday that it would launch its newly designed luxury sedan Chairman W globally in March 2008, Chinese official media Xinhua News Agency reported today.

Ssangyong hopes to sell 20,000 new Chairman W vehicles in Korean market and 10,000 vehicles overseas, including Chinese market, the report said.

"We're fully prepared to compete with world-class luxury models, such as Lexus LS430, Audi A8, BMW 750 worldwide," said Choi Hyung Tak, Ssangyong's CEO. "The model will be the most expensive car in Ssangyong's lineup."

Ssangyong has sold 100,000 units Chairman W since the model was launched in 1997. The new Chairman W will be powered by a 5.0 liter V8 gasoline engine with a seven-speed transmission.

Another Korean automaker, Hyundai announced last month that it would release Genesis, its first rear-wheel drive premium sedan, next January in Korea and export it to China and the United States thereafter.

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