Ssangyong confirms rebrand to KG Mobility

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Ssangyong Motor Company has confirmed it volition rebrand arsenic KG Mobility nether its caller owner, the KG Group.

The alteration was contiguous approved by shareholders, having been announced by caller president Kwak Jea-sun connected 4 January.

He was primitively quoted by the Korea Herald arsenic saying: “The sanction Ssangyong Motor has a fandom with bully memories, but it besides has a achy image.

“From now, each Ssangyong cars volition travel retired to the satellite nether the sanction of KG.”

The sanction alteration is taxable to shareholders’ support astatine a wide gathering successful March.

The South Korean car shaper was purchased by KG for 950 cardinal won (£620 million) successful August 2022, ending astir 2 years of uncertainty for Ssangyong.

The marque filed for receivership – volunteering for a melodramatic restructuring overseen by the South Korean courts – in December 2020, aft erstwhile proprietor Mahindra withdrew each investment, having failed to crook the concern astir successful a decennary nether its wing.

It was astir purchased for £187 million by Edison Motors – a nascent institution producing electrical buses and commercialized vehicles – but the deal fell through aft Edison failed to conscionable a outgo deadline successful March 2022.

The Korea Economic Daily reported aft the woody broke down that unionised workers astatine Ssangyong opposed the buyout, doubting Edison’s quality to concern the company.

The region’s managing director, Kevin Griffin, contiguous said successful a connection that “we volition corroborate much item astir the interaction to the UK successful owed course”.

The changes bash not impact the aboriginal of the Ssangyong Torres, the firm's 2nd electrical car hitting UK shores.

Sales of a combustion-engined Torres variant – not bound for the UK – began successful South Korea past year.