KG Mobility set to launch 7 new vehicles by 2030

KG Mobility Chairman Kwak Jae-sun shares the carmaker's mid- to long-term vision during a press conference at its production line in Pyeongtaek, Gyeonggi Province, Tuesday. Courtesy of KG Mobility

PYEONGTAEK, Gyeonggi Province — KG Mobility will launch a total of seven new vehicles by 2030 with the focus on eco-friendly SUVs, as part of its strategy to achieve stable earnings recovery through a diversified and commercially competitive lineup, the company said Tuesday.

The automaker, formerly known as SsangYong Motor, reported a long-awaited turnaround in 2023, a year after KG Group took over the once cash-strapped carmaker. In 2023, KG Mobility recorded an operating profit of 5 billion won ($3.66 million), and widened the figure to 12.3 billion won the following year.

For this year, the carmaker set an operating profit target of 172.9 billion won by expanding sales of its flagship Torres and Musso SUVs not only in Korea, but also in key European markets, including Turkey.

“After KG Group acquired the formerly SsangYong Motor, we have completed diagnosis for the once-ailing firm, and now is the time for treatment,” KG Mobility Chairman Kwak Jae-sun said during a press conference.

“The global auto industry faces difficulties following the inauguration of U.S. President Donald Trump, but we will be able to break through the hardship.

“It has been three years since KG Mobility made its brand debut, and we are on track to normalize our operation. We will continue to stand upright down the road, as we have done for the past few years."

KG Mobility's Torres hybrid SUVs and Musso EV electric pickup trucks are loaded for exports at a port in Pyeongtaek, Gyeonggi Province, Thursday. Courtesy of KG Mobility

KG Mobility’s swift earnings rebound was driven by its robust export growth. Exports for the carmaker’s vehicles reached 57 percent out of total auto sales in 2024, but the company plans to expand the number to 68 percent this year.

To deepen its presence in overseas markets, the carmaker shared plans to expand dealers networks for its strategic key markets of Turkey, Hungary and other European nations.

KG Mobility is also set to open a new office in Dubai this August as part of its push to expand into the Middle East market.

“Above all, we will increase our sales portion for the hybrid and all-electric versions of our flagship Torres SUV in Europe,” Hwang Ki-young, co-CEO of the carmaker, told reporters.

“To boost our foreign sales, we plan to make inroads into untapped yet lucrative markets, such as Libya, Syria, the United Arab Emirates, the Philippines and Ecuador."

The carmaker also expressed hopes for its upcoming launch of the hybrid version of the Actyon mid-size SUV, stressing its price-competitiveness.

The vehicle will make its debut in the latter half of 2025. It is priced at around 37 million won ($27,168), but few other carmakers can match the price in the same segment. Its fuel efficiency is 15.8 kilometers per liter for urban driving, according to the carmaker.

When asked about the possibility of its production line relocating from Pyeongtaek to other areas, the company flatly denied the likelihood, saying that “it does not have any immediate plans to do so.”