GOYANG, April 4 (Korea Bizwire) — KG Mobility, formerly known as SsangYong Motor Co., outlined its electric vehicle-focused product lineup for future growth Tuesday amid accelerating electrification in the automobile industry. KG Mobility showcased the all-electric Torres EVX, which can travel around 500 kilometers on a single charge, at the Seoul Mobility Show at the [...]
SEOUL, March 31 (Korea Bizwire) — KG Mobility, formerly known as SsangYong Motor Co., said Friday it has signed a knockdown (KD) unit vehicle export deal with a Vietnamese company. In the deal, KG Mobility will ship the KDs of the Tivoli, Korando and Torres SUVs in 2024 and those of the new Rexton, new [...]
SEOUL, March 22 (Korea Bizwire) – SsangYong Motor Co. on Wednesday changed its name to KG Mobility to transform itself into a future mobility solutions company. SsangYong Motor finalized the name change at a shareholders’ meeting Wednesday to focus on the electric vehicle platform, software defined vehicle, autonomous driving and artificial intelligence for survival amid an accelerating [...]
SEOUL, Feb. 14 (Korea Bizwire) — SsangYong Motor Co., a South Korean SUV-focused carmaker, said Tuesday it has recently signed a deal to export 7,000 vehicles to a company in the United Arab Emirates this year. SsangYong Motor signed the export deal with Neweast General Trading Zafza (NGT) in January and agreed to expand the [...]
SEOUL, Feb. 9 (Korea Bizwire) — Renault Korea Motors and SsangYong Motor Co. are struggling to ship vehicles abroad due to a shortage of car carriers. At Renault Korea’s Busan factory yard, thousands of cars are piled up, waiting for shipment. Car carriers from Europe are shipping the cars twice a month but the number [...]
SEOUL, Jan. 18 (Korea Bizwire) — SsangYong Motor Co. said Wednesday it shifted to an operating profit in the fourth quarter from a year earlier despite the global chip shortage and the extended COVID-19 pandemic. SsangYong swung to an operating profit of 4.1 billion won (US$3.3 million) in the three months ended in December, shifting [...]
SEOUL, Dec. 22 (Korea Bizwire) — SsangYong Motor Co. will operate under a new name, KG Mobility, its new chief has said, in a move signaling a new chapter in the company’s decadeslong history marked by long restructuring efforts. Kwak Jea-sun, new chairman of SsangYong Motor, said he will seek approval for the proposed name [...]
SEOUL, Nov. 14 (Korea Bizwire) — The Korean units of three foreign automakers — GM Korea Co., Renault Korea Motors Co. and SsangYong Motor Co. — have a negligible presence in the electric vehicle (EV) market. Their combined domestic sales stood at 133,890 units in the January to October period of this year, down 5.2 [...]
SEOUL, Nov. 12 (Korea Bizwire) – SsangYong Motor Co. said Friday it has graduated from the court-led debt rescheduling program 1 1/2 years after it was placed under court receivership amid the COVID-19 pandemic. SsangYong Motor applied for court receivership on April 15, 2021, after its Indian parent Mahindra & Mahindra Ltd. failed to attract [...]
SEOUL, Sept. 29 (Korea Bizwire) — SsangYong Motor Co., a South Korean SUV-focused carmaker, said Thursday it will export about 170,000 vehicles to a Saudi Arabian company by 2030 in the form of semi knockdown (KD) units. In January, SsangYong Motor signed the KD supply deal with Saudi National Automobiles Manufacturing Co. (SNAM) for seven [...]