Chery Automobile invests $75 million in South Korea's KG Mobility

Chery Automobile KG Mobility $75 million investment SE-10 SUV strategic partnership

China's Chery Automobile has signed a strategic investment agreement with South Korean automaker KG Mobility Corp, providing $75 million through convertible bonds. If the bonds are converted, Chery would acquire roughly a 10% equity stake in KG Mobility.

The partnership will see KG Mobility launch a midsize SUV, code‑named SE‑10, in early 2027 using Chery’s T2X platform. The model will be offered with both gasoline and plug‑in hybrid powertrains, though the company has no current plans to export it to the United States, remaining open to the possibility. Both firms will also cooperate on autonomous driving, software‑defined vehicle architecture, and have created a joint task force to explore projects in semiconductors, robotics, raw materials and steel.

The agreement was signed at the Grand Hyatt Seoul in the presence of Chery President Zhang Guibing, Chery Chair Yin Tongyue, KG Mobility Chairman Kwak Jae‑sun and CEO Hwang Ki‑young. Chery, China’s largest car exporter, said the deal aims to strengthen its overseas market presence, while KG Mobility, formerly SsangYong Motor, sold more than 55,000 vehicles in the first half of the year, with exports accounting for about 60% of sales.

Entities

Chery Automobile · KG Mobility Corp · Kwak Jae‑sun · SE‑10 SUV · Yin Tongyue · Zhang Guibing

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] KG Mobility has no current plans to export the SE‑10 SUV to the United States but remains open to the possibility. jack1065.com · kfgo.com · mix929.com · www.koreaherald.com
[● 4 SOURCES] The SE‑10 SUV will be offered in gasoline and plug‑in hybrid versions. jack1065.com · kfgo.com · mix929.com · www.koreaherald.com
[● 4 SOURCES] KG Mobility plans to launch a midsize SUV, code‑named SE‑10, in January using Chery’s T2X vehicle platform. jack1065.com · kfgo.com · www.koreaherald.com · mix929.com
[● 4 SOURCES] The partnership includes a task force to explore cooperation in semiconductors, robotics, raw materials and steel. jack1065.com · kfgo.com · www.koreaherald.com · mix929.com
[● 4 SOURCES] Chery is China’s largest car exporter and aims to strengthen its presence in overseas markets. jack1065.com · kfgo.com · mix929.com · www.koreaherald.com
[● 4 SOURCES] If converted into shares, the bonds would give Chery about a 10% stake in KG Mobility. jack1065.com · kfgo.com · www.koreaherald.com · mix929.com
[● 4 SOURCES] China’s Chery Automobile agreed to invest $75 million in South Korean automaker KG Mobility Corp through convertible bonds. jack1065.com · kfgo.com · www.koreaherald.com · mix929.com
[● 2 SOURCES] The SE‑10 midsize SUV is scheduled for launch in early 2027. localsegye.co.kr · www.koreaherald.com