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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 2 sources · 15 days · First seen · Last updated

KG Mobility international market expansion

Overview

KG Mobility (KGM) has initiated a brand launch in Myanmar through a partnership with the Super Seven Stars (SSS) Group. During an event in Yangon, the company introduced an eco-friendly lineup featuring the Torres EVX and Musso EV, with a goal to supply 1,000 vehicles to the Myanmar market this year.

By August, KGM reported a 22.6% year-on-year decrease in total sales, totaling 6,860 units. This decline was primarily driven by a 43.3% drop in domestic demand. To counter this, the company is prioritizing international expansion, noting growth in export markets such as Turkey and Hungary. Following its entry into Myanmar, KGM plans to expand its Knock-Down (KD) business operations into Saudi Arabia and Vietnam.

Entities

Super Seven Stars Group · KGM · Kwak Jae-sun · KG Mobility · Yangon

Timeline

  1. 26 days ago

    [BUSINESS] 2 sources
    KG Mobility reports August sales of 6,860 units amid domestic decline

    KG Mobility sold 6,860 units in August, a 22.6% year-on-year decrease. The company is countering domestic declines by expanding exports and launching electric vehicle lineups in Myanmar.

  2. about 1 month ago

    [BUSINESS] 4 sources
    KGM launches brand in Myanmar with eco-friendly vehicle lineup

    KGM has launched its brand in Myanmar in partnership with SSS Group, aiming to supply 1,000 eco-friendly vehicles like the Torres EVX this year.

Sources

autotribune.co.kr · localsegye.co.kr