KG Mobility, the South Korean automaker formerly known as SsangYong Motor, is taking the first product from its partnership with Chery Automobile into the next stage of development.
The SE-10 midsize SUV, based on Chery’s T2X platform, is due in early 2027 with petrol and plug-in hybrid versions for South Korea and export markets.
Chery has now agreed to invest US$75 million (RM307 million) in KG Mobility through convertible bonds, a move that could give it about a 10% stake if fully converted. The deal was signed in Seoul on Aug 2 and announced a day later, according to KG Mobility.
The two companies first formed a platform-licensing partnership in 2024, then expanded it into joint SUV development in 2025.
They are also preparing a second jointly developed vehicle and studying ways to share production capacity, supply chains, sales channels and after-sales operations outside their home markets.
A joint task force will look at possible cooperation in automotive semiconductors, robotics and raw materials.
For KG Mobility, the alliance adds access to Chery’s platforms, technical expertise and international manufacturing footprint, while Chery gains a deeper route into overseas markets through a Korean partner.
