We got a little more information from Phoenix Motorcars today about the introduction of the company's "newly configured Sports Utility Truck" this week. As we mentioned this morning, the SUT has been a long time coming and Bryon Bliss, Phoenix Motorcars' VP of sales and marketing, said that:
Last year at the Paris Motor Show, Ssangyong showed off a concept CUV called the C200, and it's reportedly getting close to production. Despite the sorry state of affairs at the Korean automaker, a slightly revised version of the crossover will be shown at the upcoming Seoul Motor Show. Like the previous concept, the C200 will use a 175-horsepower, 2.0-liter diesel engine that's reportedly Euro V emissions compliant.
Just after SAIC provided some cash to keep Ssangyong operating a while longer, the company's board decided to go ahead and file for court receivership in South Korea. Under the rules there, the court has thirty days to decide if the company has what it takes to survive as a going concern. If the application is approved, a receiver will be appointed to run the company while it is restructured. If rejected, the company will likely be shutdown, because SAIC looks unlikely to continue throwing good
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