Chinese state-owned automaker Chery Automobile Company has recently announced a significant technology transfer agreement with South Korea’s KG Mobility (KGM), paving the way for the production of a new line of medium and large SUVs for the domestic market. This collaboration marks a strategic partnership between the two companies, with the aim of enhancing KGM’s product portfolio in a market largely dominated by Hyundai and Kia. The agreement encompasses the licensing of platforms for both Internal Combustion Engine (ICE) and hybrid-electric vehicles.
In addition to platform licensing, KGM will also gain access to other advanced technologies from Chery, including self-driving technologies and the electrical/electronic architecture for software-defined vehicles (SDVs). This comprehensive agreement underscores KGM’s commitment to innovation and technological advancement in the automotive industry.
One of the key outcomes of this partnership is the development of a new model, internally known as SE-10, which is slated for completion by 2026. Leveraging the platform provided by Chery, KGM aims to introduce a cutting-edge SUV that meets the evolving demands of the market and showcases the synergies between the two companies.
During the official signing ceremony held at Chery’s headquarters in Wuhu, KGM’s chairman, Kwak Jae-sun, expressed optimism about the collaboration, stating, “We aim to grow into a sustainable company through strategic cooperation by utilizing KGM’s 70 years of technological know-how and Chery’s global platform.” This sentiment reflects the mutual commitment of both companies to leveraging their respective strengths to drive innovation and growth in the automotive sector.
Overall, the technology transfer agreement between Chery and KG Mobility represents a significant milestone in enhancing product development and technological capabilities in the automotive industry. By combining their expertise and resources, the two companies are poised to deliver innovative solutions that meet the evolving needs of consumers and propel them towards a sustainable future. Stay tuned for further developments as this partnership unfolds and brings forth new advancements in the automotive landscape.
