New Cars to Be Launched under KG Brand
SsangYong Motor will be renamed KG Mobility and its new models will be launched under the KG brand, Kwak Jae-sun, chairman of KG Group, which has acquired the ailing automobile company, said.
“We have decided to go for a new name to fully utilize the strength of SsangYong Motor,” said Kwak, who doubles as chairman of SsangYong Motor, at the 2022 Automobile Night held at the Four Seasons Hotel Seoul on Dec. 21. "SsangYong Motor has a fandom, but the company's current name also has a painful image.
SsangYong Motor was established in 1954 under a different name and was renamed Dong-A Motor in 1977 and Ssangyong Motor in 1986. It was once owned by Daewoo Group, creditors, Shanghai Motors of China, and Mahindra of India. The carmaker graduated from corporate rehabilitation procedures in November after one year and 11 months under court receivership.
SsangYong Motor’s name change reflects KG Group's intention to grow the carmaker into a comprehensive mobility company equipped with future electrification and autonomous driving technologies, experts say.