Greener Living
Once-Bankrupt Korean Carmaker Revives With $30,000 Electric SUV
- KG Mobility, previously known as Ssangyong Motor, unveils SUV
- CEO pledges revived automaker won’t ‘collapse again’
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KG Mobility Co., the South Korean automaker formerly known as Ssangyong Motor Co. before going through bankruptcy, is seeking to revive its fortunes with a $30,000 electric sports utility vehicle.
The carmaker Thursday unveiled four new vehicles at the Seoul Mobility Show, including the Torres EVX, its first electric car since conglomerate KG Group bought a majority stake in the firm in September 2022. Using lithium-iron-phosphate batteries made by BYD Co., the SUV has a driving range of 500 kilometers (310 miles) on a single charge.