Renault Samsung will be a one-car company for at least two more years while it rebuilds its devastated sales network.
Jerome Stoll, a Renault executive who was appointed president of the renamed Korean company in August, said he will emphasize sales and quality over the next few years.
'Yes, it's urgent for us to introduce a new car. We can't live on one car, but we don't have enough resources to develop a new one yet,' Stoll said during a luncheon. The company's only car is a version of the previous-generation Nissan Maxima named the SM.
The Korean automaker was bankrupt and on the verge of closing when Renault agreed in April to acquire a 70 percent stake for $560 million. Re-nault also agreed to invest another $300 million to expand capacity and rebuild the sales network. The company's showcase technical center in Kiheung has shrunk to just 200 engineers, down from more than 1,000 three years ago. But Stoll said 800 of Samsung's next 1,000 recruits will work in sales.