Ssangyong Motor said Sunday that it had mapped out strategies to diversify export targets within five years, while more than half of its export-oriented vehicles are shipped to Russia and Latin America.

Currently, Russia accounts for 32 percent of the automaker’s export destinations, followed by South & Central American countries with 26 percent.

In coordination with its majority shareholder Mahindra & Mahindra Ltd., the company said it planned to push ahead with tapping new markets.

“By 2016, when our goal is attained, India and China are projected to take up 30 percent of exports, Western Europe 29 percent, and Russia and Latin America 26 percent,” a spokesman said.

He said Ssangyong was also seeking to tap emerging countries in Eastern Europe, Africa and Southeast Asia.

If its business goal is attained, the number of target export destinations will reach 100 countries by the end of 2013, and 110 by 2016.

In a bid to attract more dealerships and consumers in the overseas market, the company also plans to unveil four new models over the next four years.

Ssangyong, which is operating manufacturing factories in Korea, is recently seeking a greater synergy with India-based Mahindra & Mahindra.

Starting in the fourth quarter, the company is rolling out the Rexton W, a sport utility vehicle, in India. The plant will be in charge of reassembling complete knock-down kits of auto components from plants in Korea.

In an industrial town 1,200 kilometers southwest of Delhi, India’s fourth-largest carmaker Mahindra & Mahindra has completed a facility to reproduce the Rexton. The factory will be in charge of importing pre-assembled parts of Rexton from Korea.

M&M Vehicle Manufacturers Ltd. is based in Chakan of Pune, India’s eighth-largest city, where other world-class brands such as Audi, BMW, Fiat, Maruti Suzuki, Chevrolet and Hyundai also operate plants. Equipped to produce up to 300,000 vehicles a year, the facility has some of India’s best including a high-speed press shop from Germany’s Shuler.

“Our facility has been approved by Ssangyong engineers who came in November 2011 to train our workers on assembling kits for Rexton,” said Vijay Dhongde, CEO of the plant.

“Our Chakan plant is more than capable of producing the Rexton. Our engineers will visit the Pyeongtaek plant in Korea to make sure quality demanded by Ssangyong is met,” Dhongde said.

Vehicles produced in the Chakan plant go to the M&M Research Valley over in Chennai, the country’s sixth-most populous city in the southern Bay of Bengal.

The research center has design and testing facilities, where final outputs from Chakan go through non-stop testing on the doors, engines, transmissions and emission control for more than 200 hours each. Testing beds for engines have labs that simulate different road and weather conditions for performance and durability tests.

“Our research center has a state-of-the-art setup for design offices, testing labs and utility buildings to come up with world-class vehicles,” said B. Bhaumik, head of the research center.

“It was completed last year, and we’re recruiting top-notch auto researchers from top carmakers from all over the world,” he added.

More and more Indian consumers are looking for bigger sedans and SUVs, after small sedans have dominated the country’s vehicle market over the past decade.

Earlier this year, Ssangyong Motor unveiled its business strategy to expand its presence in the European market, showcasing the XIV-2 concept model at the Geneva International Motor Show in March.

By Kim Yon-se (kys@heraldcorp.com)