KG delivers Torres EVX to Sweden and Norway in March

author: FutureCar Staff    

KG Mobility, a carmaker based in Korea, will begin delivering its Torres EVX electric SUV to Sweden and Norway in March of next year. The company plans to expand its delivery to the Netherlands and other European countries in the first half of the year. Hwang Ki-young, managing director of KG Mobility's Europe and Russia business division, stated that the Nordic countries will be the first overseas locations to receive the EV, following its initial release in Korea. The overseas models will have similar specifications and prices to the domestic ones.

KG Mobility's decision to prioritize the Nordic countries is based on the high demand for electric vehicles in Northern Europe due to environmental concerns. The company aims to increase its exports and achieve annual sales of 320,000 units by 2026, with 100,000 units coming from exports. Chairman Kwak Jea-sun announced that KG Mobility plans to introduce at least one new EV model every year until 2026 and will focus on exploring new markets.

The Torres EVX is KG Mobility's first pure electric vehicle since changing its name from SsangYong Motor. The EV was launched in Korea on Wednesday, with customer deliveries scheduled for November. Production of the EVX will begin in October at KG's factory in Pyeongtaek, Gyeonggi. To meet the increasing demand, Chairman Kwak mentioned the possibility of building a dedicated facility for small-size EV production, both in Korea and overseas.

KG Mobility also plans to establish an EV battery factory at its engine plant in Changwon, South Gyeongsang, with operations starting next year. When asked about concerns regarding the use of BYD's batteries in the EVX, Kwak stated that the company is in talks with LG Energy Solution and Samsung SDI for future EVs.

The Torres EVX is equipped with BYD's 73.4-kilowatt-hour lithium iron phosphate (LFP) batteries, allowing it to travel up to 433 kilometers (269 miles) on a single charge. Chairman Kwak expressed confidence in KG Mobility's financial performance, stating that the company is on track to turn a profit for the year. The increased sales of Torres SUVs and the anticipated delivery of the Torres EVX have contributed to KG Mobility's positive performance. In the first half of the year, the company achieved an operating profit of 28.2 billion won ($21 million) and recorded a revenue of 2.09 trillion won, surpassing the 2 trillion won mark for the first time in its history.

KG Mobility's current lineup includes the Tivoli, Korando, Rexton, Rexton Sports, Torres, and Torres EVX models. With the introduction of the EVX and the company's focus on exports, KG Mobility aims to establish itself as a profitable and successful carmaker in the EV market.

FutureCar Staff