KG Mobility, a Korean maker of sport utility vehicles, announced Wednesday that it has signed a partnership with China’s Chery Automobile to jointly develop a large SUV and next-generation automotive technologies, deepening its ties to China’s growing mobility industry.
The signing ceremony took place Tuesday at Chery’s headquarters in Wuhu, China, and was attended by KG Mobility Chair Kwak Jae-sun and CEO Hwang Ki-young, along with Chery Chair Yin Tongyue and President Zhang Guibing, the companies said.
The project, dubbed SE-10, will involve co-developing a large SUV modeled after KG Mobility’s flagship Rexton. Development is expected to be completed by 2026, though KG Mobility said the launch timeline would be subject to market conditions.
In addition to vehicle co-development, the two firms agreed to collaborate on a range of future mobility technologies, including software-defined vehicles, autonomous driving and electric components.
“With intensifying global competition, strategic alliances and cross-border collaborations are becoming essential for business efficiency and future revenue generation,” Kwak said in a statement. “Our partnership with Chery combines KG Mobility’s 70 years of engineering expertise with Chery’s global platform to drive sustainable growth and innovation.”
The new agreement builds on a broader strategic partnership formed last October, under which the companies have cooperated across vehicle development, manufacturing, distribution, and intellectual property, particularly related to Chery’s T2X plug-in hybrid platform.
KG Mobility said the partnership would also explore the development of eco-friendly models and niche-market vehicles, as the company looks to diversify its product lineup.
Formerly known as SsangYong Motor, KG Mobility has stepped up its cooperation with Chinese automakers following its 2022 acquisition by KG Group, a South Korean conglomerate with businesses in logistics, energy and media.
The automaker is also collaborating with BYD, China’s largest electric vehicle manufacturer, on the development of electric and hybrid models. Through the partnership, KG Mobility is securing lithium iron phosphate battery supplies for several of its electric vehicles, including the Korando EV and Musso EV pickup truck.
forestjs@heraldcorp.com
