IRELAND’S FOREMOST FLEET & CORPORATE SECTORNEWS GUIDE II | 7
Issue 2 | April 2024
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ThinK Great with KGM and new Torres EVX The KGM Torres EVX marks the dawn of a new era for auto brand SsangYong, following its corporate restructuring and endorsement of the South Korean company’s refreshed global identity. The KG Mobility Corporation was formed by the KG Group, an industrial giant, following the takeover of SsangYong Motors in late 2022. KG Group, which celebrates its 70th anniversary, has a broad portfolio of business activities, national and international, stretching from steel production, broadcasting and publishing, hospitality, energy, information technology, lifestyle, finance and automotive.
KGM, which also comes with the tag line: ‘Korean Genuinely Made’, has set out an ambitious plan, aiming to achieve 320,000 unit sales of its Sports Utility Vehicles and Pick-up trucks inside the next two years worldwide. To put that in perspective, 120,000 units were sold in 2023, 55,000 of which were exported. The European continent is to play its part in reaching this objective and with new models coming on stream to complement the refreshed existing line-up, all augers well for the programme. Production will remain in Korea in the main, with a new factory to be added there soon, while knock down assembly points will be located
in Saudi Arabia and Vietnam. Under consideration is the establishment of a production facility in Europe and possibly the importation and distribution of its electric bus range, based on Edison Motors models that the Group acquired recently. In the meantime, a new business operations headquarters and an expansive parts warehouse is to be established in Germany and the Netherlands. According to Joon Kim, Head of EU Business Unit, new sales should top 35,000 units this year. continued overleaf
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