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CDA
March 31, 2023
SsangYong gets a new name. The Korean brand begins to be called KG Mobility and they have their great hope for the future in the Torres EV.
Don’t call it SsangYong Motor, call it, from now on, KG Mobility. The Korean automaker has agreed to its first name change in 35 years at a shareholders’ meeting held a few days ago.
“It is our first step to become a mobility company focused on future technologiesincluding the development of a platform dedicated to electric vehicles and autonomous driving,” the Korean car brand explained in a statement.
Torres EV, the great hope of the renowned brand
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The move comes after a consortium led by KG, a steel giant, acquired the 62 percent of the shares from the troubled automaker.
SsangYong was founded in 1954 under the name of Ha Dong-Hwan Motor Workshop.. The company name changed to Shinjin Motors in 1967 and to Dong-A Motor in 1977. The name SsangYong Motor was first adopted in 1998.
the company was placed under receivership in April 2021as Mahindra, which has owned SsangYong Motor since 2011, failed to find new investors amid the Covid-19 pandemic and financial difficulties.
However, the automaker has had recent commercial success with its new mid-size SUV Torres, the company’s first all-new vehicle in four years. More than 30,000 units have been sold in the local market in less than eight months since its introduction. Precisely, the new brand will debut with the Torres EV, the electric version of the aforementioned SUV.
It may interest you: What does the SsangYong logo mean?
At the same time, KG Mobility has also announced at the meeting that starting a used car business in the second semester. The new business will sell second-hand cars from KG Mobility less than five years old and with fewer than 100,000 kilometers on the odometer.
