KGM plans to boost EV line-up in collaboration with Chery
KG Mobility (KGM, formerly SsangYong) has announced that it plans to introduce seven new models by 2030, as the South Korean automaker looks to strengthen its line-up of electrified vehicles for global markets.
KGM’s chairman, Kwak Jae-sun, outlined the company’s ambitious future product plans at the “KGM Forward” conference held at its headquarters in Pyeongtaek, Gyeonggi Province.
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Kwak Jae-sun confirmed that KGM plans to expand its line-up of SUVs and MPVs to meet global demand, adding that the company will step up its collaboration with global partners to secure technologies to produce extended-range electric vehicles (EREVs) and plug-in hybrid electric vehicles (PHEVs), strengthening its existing portfolio of internal combustion engine (ICE) vehicles, battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs).
Last year KGM, formerly known as Ssangyong Motor, signed a strategic partnership agreement with China’s Chery Automobile Company, involving platform licensing and technology sharing aimed at helping it strengthen its range of electrified vehicles.
KGM confirmed that it is developing a new medium-to-large SUV range, the SE10, in collaboration with Chery which is scheduled to go into production next year. This will be followed by the KR10, the successor to the current Korando SUV, and a passenger minibus/MPV and cargo van range. In the meantime, KGM plans to launch the Action Hybrid In the second half of this year.
Kwak Jung-hyun, the head of KGM’s Business Strategy Division, pointed out that the “domestic MPV market is expected to see increased demand for care for school-age children and parents, as well as leisure activities, but there aren’t many models accessible to consumers. We will launch a new MPV to expand consumer choices in the growing minivan market.”
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By GlobalData
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