On October 12, Ssangyong Motor Co., part of the India based Mahindra Group, announced that it has signed a letter of intent (LOI) with China’s Shaanxi Automobile Group for a joint venture that will establish local production plant for CBU vehicles as parts of its efforts to grow in China. The joint venture, which will become SsangYong's first overseas production base in a 50:50 partnersh...