SEOUL, Sept. 21 (Korea Bizwire) – KG Mobility, formerly known as SsangYong Motor Co., said Thursday it is “on track” to achieve an operating profit for the year helped by increased exports of the Torres SUV.
Given KG Mobility already shifted to an operating profit in the first half, it is set to report a full-year operating profit in 2023, KG Mobility Chairman Kwak Jea-sun said in a press conference on the company’s future mobility plans.
In the January-June period, the company swung to an operating profit of 28.2 billion won (US$21 million) from an operating loss of 59.1 billion won a year earlier.
To beef up the lineup, KG Mobility on Wednesday launched the Torres EVX in the domestic market. It plans to launch an all-new coupe model in June next year and SUV models based on its own dedicated electric vehicle (EV) platform in coming years, the company said in a statement.
“The company is planning to develop the dedicated EV platform through a partnership with a technologically advanced company for the upcoming SUV models,” KG Mobility Managing Director Hwang Ki-young told reporters.
A high-performance gasoline hybrid SUV is also scheduled to be added to the “environment-friendly” lineup after 2025, the statement said.