KGM (ex-SsangYong) firms up electric future

SEOUL: KGM is marking 70 years of SsangYong's existence with plans to introduce an all-electric pick-up truck and a mid-sized electric SUV in the first half of 2025.

SsangYong was South Korea's oldest automaker but it went bankrupt in 2022 and was bought over by the KG Group, a chaebol or large family-owned business conglomerate that is involved mainly in steel and chemical production. The new owner then renamed SsangYong Motor as KG Mobility (KGM).

KGM hasn't abandoned combustion engines. It will continue to invest in eco-friendly electrified engines as it reshapes itself as a developer in sustainable mobility.

Its product roadmap is guided by a new design philosophy "Powered by Toughness", combining rugged durability with sophisticated design and cutting-edge technology.

KGM already has two electric SUVs namely the Torres EVX and the smaller Korando e-Motion. Both electric models have petrol-fuelled counterparts powered by a 1.5-litre engine.

KGM said the brand would continue to develop concept models in collaboration with China's BYD, using electric-only platforms.

KGM is based in Seoul, and its plant is located at Pyungtaek, which has the capacity to produce 240,000 cars a year. The company has invested in a new factory, in the same area, which has been developed specifically to accommodate the production of pure-electric vehicles.

KGM holds the distinction of being the sole manufacturer in South Korea that makes only SUVs and 4x4 vehicles.

In the early days, SsangYong's forebear Ha Dong-Hwan Motor workshop initially produced trucks, buses and special-purpose vehicles for the export market. It was only in 1986 when the SsangYong Group, also a chaebol, acquired the vehicle business and gave all vehicles the SsangYong name.