Korean KG Mobility will develop suc on Chinese Chery platforms

South Korean KG Mobility has signed a strategic partnership, including a vehicle platform licensing agreement, with China's Chery Automobile, in a move designed to lay the foundation for future growth. The agreement will help strengthen KGM's product portfolio by providing access to new energy vehicle (NEV) technologies, including vehicle platforms. Speaking at the unveiling event of the agreement, KGM President Kwak Jae-son emphasised: 'Through this strategic partnership and technical cooperation with Chery Automobile, it will be possible to respond to the rapidly changing automotive market by developing different models, shortening the development period and launching new cars that meet customers' needs. Furthermore: 'Through this strategic partnership and the platform licensing agreement, KGM plans to develop medium and large SUVs that respond to market changes and models for global markets.

The brand plans to expand its product range with the introduction of new electrified models based on existing Chery models. KGM's global sales fell 16% to 80,643 vehicles in the first nine months, while Chery's sales dropped 9% to 1.58 million units.