KG to distribute Torres EVX in Sweden and Norway next month

author: FutureCar Staff    

KG Mobility is set to deliver its Torres EVX, the pure 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 two 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 typically high in Northern Europe due to environmental concerns. KG Mobility aims to accelerate 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 discovering new markets.

The Torres EVX is KG Mobility's first pure EV since changing its name from SsangYong Motor. It was recently launched in Korea, with customer deliveries scheduled for November. Production of the EVX will begin in October at KG's factory in Pyeongtaek, Gyeonggi. To increase production capacity, the company is considering building 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, with operations expected to start next year. While the Torres EVX currently uses BYD's batteries, KG Mobility is in talks with LG Energy Solution and Samsung SDI for its future EVs. The EVX is powered by BYD's 73.4-kilowatt-hour lithium iron phosphate (LFP) 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 swing into profit for the year. The increased sales of Torres SUVs and the anticipated delivery of the Torres EVX have contributed to the company's success. 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 in its history.

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

By Sarah Chea [[email protected]]

FutureCar Staff