KG delivers Torres EVX to Sweden and Norway in March

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【Summary】KG Mobility will begin delivering its pure electric SUV, the Torres EVX, to Sweden and Norway in March next year. Delivery to other European countries will follow in the first half of the year. The EV models will have the same specifications and prices as the domestic ones. KG Mobility aims to increase exports and introduce at least one EV model every year until 2026. The company plans to build a small-size EV-dedicated facility and an EV battery factory.

FutureCar Staff Sep 21, 2023 4:17 PM PT

KG delivers Torres EVX to Sweden and Norway in March

KG Mobility is set to deliver its Torres EVX, the electric version of the popular Torres SUV, to Sweden and Norway in March next year. This will be followed by deliveries 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, with no major differences in specifications and prices compared to the domestic models.

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

Torres EVX is KG Mobility's first pure electric vehicle since changing its name from SsangYong Motor. The vehicle was launched in Korea and is scheduled for customer delivery in November. Production of the EVX will begin in October at KG's factory in Pyeongtaek, Gyeonggi. To increase production capacity, the company is considering the construction of a small-size EV-dedicated facility, with potential locations in both Korea and overseas.

In addition, KG Mobility plans to establish an EV battery factory at its engine plant in Changwon, South Gyeongsang, starting operations next year. While the Torres EVX currently uses BYD's batteries, KG Mobility is in talks with LG Energy Solution and Samsung SDI for future EV models. The EVX is powered by BYD's 73.4-kilowatt-hour lithium iron phosphate batteries, providing a range of 433 kilometers (269 miles) on a single charge.

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 the company's positive outlook. In the first half of the year, KG Mobility recorded an operating profit of 28.2 billion won ($21 million) and achieved a record revenue of 2.09 trillion won, surpassing the 2 trillion won mark for the first time since its establishment.

KG Mobility's current lineup includes the Tivoli, Korando, Rexton, Rexton Sports, Torres, and Torres EVX.

By Sarah Chea