IT House reported on April 2 that South Korean automaker KG Mobility announced today that it held a signing ceremony with Chery Automobile in Wuhu, Anhui, yesterday for the joint development of a mid-to-large SUV. The two companies will strengthen technical cooperation to drive future growth.

This signing ceremony represents the concrete implementation of the substantive collaboration between the two parties, following the strategic partnership and platform licensing agreement with Chery Automobile in October last year. Together, they will develop mid-to-large SUVs for both domestic and international markets, while strengthening cooperation in areas such as autonomous driving and software-defined vehicle E/E architecture (electrical/electronic hardware and software).

The medium and large SUV project is named "SE-10" and is scheduled to be completed by 2026, with its release date to be determined based on market conditions. KGM plans to not only expand its fuel vehicle lineup but also introduce eco-friendly models by leveraging strategic partnerships such as Chery Automobile's global platform.

IT Home Note: KGM was formerly known as Ssangyong Motor, which was initially famous for manufacturing diesel, four-wheel drive, and off-road SUV vehicles. In 1997, Daewoo Motors acquired Ssangyong Motor, but due to financial issues within the Daewoo Group, it was sold again in 2000. SAIC acquired 49% of Ssangyong Motor in 2004, and later became its largest shareholder in 2005.

However, due to mismanagement and the impact of the global economic crisis in 2008, SsangYong Motor filed for bankruptcy protection in 2009. SAIC Group had planned to acquire SsangYong Motor, but ultimately failed to do so. Subsequently, SsangYong Motor was acquired by the Indian automotive giant Mahindra & Mahindra.

In June 2022, the Seoul court in South Korea chose a Korean consortium led by KG Group as the final candidate to take over and merge with SsangYong Motor. The court confirmed the acquisition in August, and the company's restructuring process was completed in November. It was renamed KG Mobility in March 2023.

Shuanglong once introduced models such as the Rexton, Musso, and Actyon in the Chinese market.