Korean car company in deal with Kim Long Motors

Monday, Nov 20, 2023 14:42

Executives of Kim Long Motors and KG Mobility at a meeting in Thừa Thiên-Huế Province. — Photo kedglobal.com

South Korean automobile manufacturer KG Mobility in mid-November had a meeting to discuss plans to expand co-operation with Vietnamese automobile manufacturer Kim Long Motors on assembling and producing KG Mobility vehicles in Việt Nam.

The two sides reached a consensus on co-operation at a meeting last week at the Vietnamese enterprise's factory in Thừa Thiên-Huế Province, reported An Ninh Tiền Tệ (Monetary Security) newspaper.

They also checked the progress of the KG Mobility factory being built by Kim Long Motors in Chân Mây-Lăng Cô Economic Zone.

In its announcement about signing an agreement with Kim Long in March, KG Mobility said that it targeted to achieve an annual output of 15,000 units at the factory next year and 60,000 units or up to 210,000 by 2029 with a revenue reaching US$4.6 billion.

These models include the Tivoli, Korando and Torres from 2024 and Rexton and Rexton Sports Khan from 2025.

This co-operation is an expansion of the agreement signed between KG Mobility and Kim Long Motors in March to export dismantled vehicles to Việt Nam for further assembly.

This is KG Mobility's first global operation since changing its name from SsangYong Motor. — VNS

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