After the takeover by KG Mobility, the Korean car manufacturer changed its name.
After the then insolvent South Korean car manufacturer SsangYong was rescued in autumn 2022 with a takeover by a consortium led by the steel and chemical group KG, the realignment is now pending.
New name for pure image
As early as January 2023, the Korean daily newspaper Korea Herald reported that Kwak Jea-sun, CEO of the KG Group, spoke out in favor of renaming the car manufacturer. Although the name SsangYong Motor has a large fan base and a long tradition, it also has a bad image due to the turmoil of the recent past.
In order to be able to restart unencumbered, the company should simply be renamed KG Mobility. This should not change anything in the history of the car manufacturer. The name change was officially voted on at the Annual General Meeting in March 2023. As the car manufacturer officially announced, the name change will apply from March 22, 2023. As a result, the entire corporate identity and the company logo will be revised. The name SsangYong will be retained for the time being: "SsangYong" is next to "KG Mobility" on official communication channels such as the website.
Not the first name change
The new name should also make it easier for the company to expand into new mobility fields. Korea's oldest automaker started in 1954 as the Ha Dong-Hwan Motor Workshop. Between 1967 and 1986 the company used the names Shinjin Motor and Dong-A Motor. The Koreans have only been using the name SsangYong Motor since 1986, when the carmaker was taken over by the now defunct SsangYong Group. SsangYong's owners have included the Daewoo Group, various creditors, the Chinese state automaker SAIC and Mahindra Motor. It is not yet known when the first car with the new KG name will come onto the market.
Four electric cars planned
The company plans to launch four electric cars in different vehicle segments: The all-electric model offensive marks the beginning of the Torres EVX, which will feature a medium-sized pick-up (project name O100) and another SUV (F100) consequences. A compact electric SUV (KR10) is also planned. KG Mobility is also developing a new EV platform for this purpose, and working on autonomous driving functions and advanced connectivity in cooperation with other IT and software companies in the KG Group.
The Korean car manufacturer SsangYong wants to start over with a new investor in the direction of e-mobility. The reboot also includes a name change. SsangYong simply becomes KG Mobility.