Samsung plans passenger car

SEOUL, May 5: The Samsung group, which is already in the heavy commercial vehicles, will be entering the passenger car sector currently dominated by its rivals Hyundai, Daewoo, Kia and Ssang Yong.

According to Mika J Sarkkinen, assistant manager, planning, Samsung, the company has tied up with Nissan to bring out its Maxima model in the Korean market next year. “We’re also looking at the export market… India can be one country,” he said, when asked whether Samsung will enter Indian car industry. Hyundai and Daewoo are already in India. Kia and Ssang Yong are waiting in the wings. South Korean car makers are now relying on exports to overcome excess capacity and slowing sales at home, but the road to profitability is riddled with potholes.