Korea automaker KG Mobility eyes vehicle production in Vietnam from 2024

Tri Duc Monday | 11/20/2023 09:14

Photo courtesy of KG Mobility.

South Korean automaker KG Mobility plans to expand its cooperation with Vietnamese automaker Kim Long Motors by assembling and producing KG Mobility vehicles in Vietnam, the former said on Friday.

The two sides reached a consensus on the cooperation at a meeting this week at the Vietnamese firm’s factory in Thua Thien-Hue province. They also checked on the progress of the KG Mobility factory, which is being constructed by Kim Long Motors in Chan May-Lang Co Economic Zone in the central province.

KG Mobility is looking to reach annual output of 15,000 units in 2024 and 60,000 units in 2029. The models include the Tivoli, Korando, and Torres from 2024, and the Rexton and Rexton Sports Khan from 2025.

The two companies also discussed plans to bring the Torres EVX and KGMC, newly-released electric buses in South Korea, to Vietnam.

The cooperation is an expansion of a deal signed between KG Mobility and Kim Long Motors in March to export knocked-down (KD) vehicles to Vietnam for further assembly. This is the first of KG Mobility's global activities since its name change from SsangYong Motor.

Source: The Investor