The South Korean manufacturer of SUVs, crossovers and pickup trucks joined the KG Group last summer and is now in the process of transformation: there will be several new lines of business, but cars are still in the spotlight.
In Korean, KG Group is a chaebol, a form of organization of a group of companies specific to South Korea. The chaebols are Samsung, Hyundai, LG and other major Korean concerns, and now the former SsangYong Motor is fully integrated into the KG Group chaebol.
The main business of KG Group is the production of chemical fertilizers, steel and environmentally friendly materials for various industries. The concern also owns a chain of coffee houses and fast food establishments (KFC Korea), produces meat products, is engaged in logistics, education, consulting, modern payment systems, construction, disposal of exhausted batteries and media business.
SsangYong Motor became part of the KG Group in August last year after a more than a year and a half period of external management and the search for options to save the company. Since 2011, SsangYong Motor has been owned by the Indian corporation Mahindra & Mahindra, under its wing, SsangYong Motor did not achieve any noticeable commercial success, made losses and had very scarce funding, and the COVID-19 pandemic completely brought SsangYong to a pre-bankruptcy state. If not for the deal with KG Group, then SsangYong Motor would have been liquidated and ceased to exist last fall, but, fortunately, a new owner was found, and now SsangYong is starting a new life under a new name — KG Mobility.
< p>Rumors about the renaming of SsangYong appeared immediately after the deal with KG Group, that is, in August 2022, then it was assumed that the new name would be KG SsangYong Mobility, but in December, the head of KG Group Kwak Jae-song (곽재선) announced that on behalf of SsangYong it was decided to completely abandon it, since in recent years a “painful image” has been attached to it. Today, the actual renaming of SsangYong Motor to KG Mobility took place, the addresses of the automaker's head websites were updated, although SsangYong will flicker in social networks and on some regional sites for a long time.
It is hardly worth worrying about the loss of the SsangYong name, because this name is not the first for the company: it started in 1954 as Dong-hwan Motor, from the mid-60s to the mid-80s it was known as Shinjin Motor and Dong-A Motor, SsangYong received the name in 1988, but now it will be called KG Mobility. The word Mobility is now very popular, it emphasizes the flexibility, high-tech and multi-directional business.
KG Mobility's key areas of activity are electric vehicles, special-purpose vehicles, unmanned vehicles and used vehicles. It has been announced that KG Mobility will buy and resell SsangYong vehicles less than five years old and less than 100,000 km driven, with a full diagnosis and repair if necessary before sale.
Torres EVX
As for new models, at the end of March at the Seoul Motor Show, KG Mobility will show several new products and concepts already under the new brand, including the one announced on Last week, the Torres EVX electric crossover. It is not yet clear how the KG Mobility emblem will look directly on the machines, but we will find out very soon. So far, Torres EVX, as the latest model of the company, has no emblems on the body at all.