Renault Samsung Motors Co., the South Korean unit of French automaker Renault SA, said Friday it has introduced its mid-size passenger vehicle, the SM5, to the European market.
The vehicle, known as the Latitude in overseas markets, is currently sold in some 30 countries throughout the world.
“Through these SM5 exports, Renault Samsung Motors will fulfill its role as the Asian hub of the Renault-Nissan alliance,” said Jean-Marie Hurtiger, CEO of Renault Samsung.
Hurtiger noted exports of the vehicle will not only lead to the company’s growth but also help transform it into a global player.
Exports of Renault Samsung more than doubled to 115,785 units last year from a year earlier, but the company is still largely considered a domestic player as its domestic sales surpassed exports by nearly 40,000 units in 2010.
“Based on increased exports, Renault Samsung Motors will improve its image as a global enterprise while promoting balanced growth between exports and domestic sales,” Hurtiger said.
The Latitude in Europe has a price range of 32,500 euros to 45,000 euros ($44,630-$61,800).