SsangYong to re-brand following KG Group takeover

SsangYong Motor Company is changing its name to KG Mobility as part of a re-brand of the business, following its takeover by KG Group.

The car maker plans to focus on new mobility technologies such as EV-dedicated platforms, software defined vehicles (SDV), autonomous vehicles and AI in line with the paradigm shift.

Kwak Jae-sun, chairman of KG Group and the automaker, said new models will be launched under the KG brand.

Kevin Griffin, managing director of SsangYong Motor UK, commented; “Whilst the last few years have been unsettled for SsangYong, the future is bright. The KG Group has accelerated early management normalisation by increasing sales and making profit. The future growth of the company will be based on a move towards electrification, starting with the successful international launch of the new Torres SUV model. With regards to the company change of name, we will confirm more detail around the impact to the UK in due course.”

SsangYong Motor Company was rescued from bankruptcy by KG Group last year, when the Korean chemical and steel company led a consortium that acquired a 62% stake in the car maker.

The car maker applied for bankruptcy to South Korea’s Seoul Bankruptcy Court on December 21, 2020, after the impact of the Covid-19 pandemic left it facing financial difficulties.