Renault Samsung Motors, the South Korean unit of France’s Renault SA, Monday unveiled the “QM5,’’ the automaker’s first sport utility vehicle (SUV) in an effort to boost domestic sales.
Company officials said that the mini SUV would be introduced the South Korean market from early December. It is also set to go on sale globally from next month, according to the officials.
The QM5 is the first SUV model of Renault Samsung, ranked fourth place in the country’s automobile industry. It has so far sold only small-, mid- and large-sized sedans, each named as the “SM3,’’ “SM5’’ and “SM7,’’ in South Korea.
Equipped with a two-liter diesel engine outsourced from Renault, the vehicle boasts of a maximum 173hp, which is pretty good for such a modest displacement. A gasoline version QM5 with a 2.5-liter engine will be introduced early next year.
Renault Samsung has invested over 560 billion won ($610 million) over the past 28 months to develop the SUV model under the project name “QMX.’’ It made its debut as a small crossover concept vehicle at the Seoul Motor Show in April.
Renault Samsung Motors CEO Jean-Marie Hurtiger said in the launching ceremony in Busan that the vehicle was “invented by Nissan, styled by Renault and built in South Korea’’ _ a direct result of the alliance.
The production facility in Busan, the country’s second-largest city, is equipped to manufacture 100,000 units per year, with almost half of these destined for the local market.
“We plan to use the whole capacity and you can assume that we will export roughly 60-65 percent of the volumes that we will produce,” Renault Samsung’s chief executive Jean-Marie Hurtiger said in a statement.
Renault Samsung plans to sell the SUV mostly in Europe from May next year under the Renault brand.
Hurtiger repeated his company’s plan to double its annual production capacity by 2010 by investing a total of 400 billion won ($436.3 million) over the coming three years.
The Koleos, which will debut in South Korea next month, will compete with other late arrivals on the country’s growing SUV market, such as the Citroen C-Crosser and Peugeot 4007 of cross-town rival PSA Peugeot Citroen
Renault took control of the now-defunct Samsung Motors in 2000 following the 1997-98 Asian financial crisis. Renault holds 80.1 percent in the automaker, while Samsung Group, the country’s biggest conglomerate, owns the remainder.
 Source : koreatimes and guardian.co.uk
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