It isn't a name that exactly rolls off the tongue, but SsangYong Motors has announced it will launch an all-electric SUV with 300 km (186 miles) range and a 150 km/h (93 mph) top speed by 2020.

SsangYong Tivoli EVR

SsangYong Tivoli EVR

The South Korean company is 72.85% controlled by Mahindra & Mahindra (we like to be exact with our percentages), and has promised to support e-developments of the SUV with an investment of $1 billion over the nextfour years.

Currently SsangYong offers three SUVs (G4 Rexton, Korando C and Tivoli) as well as a Chairman sedan.

The current production facility in Pyeongtaek already has some spare capacity, as the South Korean plant could handle up 250,000 cars annually (while sales in 2016 was 156,000).

Mahindra & Mahindra Managing Director Pawan Goenka said:

"Mahindra is fully behind supporting all of the investment that is required for SsangYong, and, as needed, Mahindra will always have funds for SsangYong,"

source: Yonhap News Agency