KG Mobility inks partnership with China's Chery Automobile

KG Mobility announced on Monday that it has signed a strategic partnership cooperation agreement with China's Chery Automobile on Saturday.

From left: KG Mobility CEO Hwang Ki-young, KG Mobility Chairman Kwak Jae-sun, Chery Automobile Chairman Yin Tongyue and Chery Automobile President Zhang Guibing pose at the signing ceremony of a cooperation agreement at the Chinese automaker's headquarters in Wuhu, Anhui Province, on Monday. [KG MOBILITY]

KG Mobility announced on Monday that it has signed a strategic partnership cooperation agreement with China's Chery Automobile on Saturday.

At the Chinese automaker's headquarters, KG Mobility co-CEO Hwang Ki-young, KG Mobility Chairman Kwak Jae-sun, Chery Automobile Chairman Yin Tongyue and Chery Automobile President Zhang Guibing signed the agreement to partner in future mobility technologies.

The Korean maker of the Torres will utilize technology and platforms from China's top auto exporter to develop SUVs of various sizes.

Chery sold 1.88 million units last year, more than 930,000 of which were exports. Meanwhile, KG Mobility's Actyon, which was introduced in August, sold 1,686 in September, making a decent dent in the market shares of competitors' midsize SUVs.