SsangYong Motor Company in Korea has changed its corporate name to KG Mobility in the first step towards becoming a new-generation full mobility business, confirming the change at the shareholders meeting held at the company’s headquarters in Pyeongtaek.
SsangYong Motor Company was established in 1954 as Ha Dong-Hwan Motor Company, changing to Dong-A Motors in 1970. The SsangYong name appeared in 1988, and after numerous investors, Mahindra and Mahindra took a controlling stake in 2010. In November 2022, its majority shareholding was acquired by the KG Group.
Using the word ‘mobility’ expresses the development and application of future-oriented technologies. KG Mobility plans to focus on new mobility technologies such as EV-dedicated platforms, software-defined vehicles (SDV), autonomous vehicles and AI in line with the ongoing paradigm shift in the automotive industry.
Together with the name change, a new brand slogan has been introduced: Go Different. KG Mobility.
As well as building on SsangYong’s reputation for all-wheel-drive vehicles, KG Mobility
is planning to enter several new business areas, such as warranted used cars and special vehicles.
In the latter half of 2023, a certified pre-owned business will purchase young SsangYong vehicles to sell as quality used cars, controlling residual values and reassuring customers with inspections and repairs. A separate company has been established for the manufacturing and sales of special purpose vehicles, as well as enhancing and customising vehicles with bespoke features such as electric side steps and custom deck-tops.
A spokesperson for KG Mobility said, “We have changed our name after 35 years and taken the first step towards developing the business into a future mobility company. By focusing on the design and development of future vehicles utilising new technologies such as EV-dedicated platforms, SDV, autonomous vehicles and AI, the company is really embracing change, and we will grow and develop as a proud and respected future mobility partner.”
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.”
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