South Korean automaker KG Mobility announced that it has secured a US$ 75 million investment from Chinese state-owned automaker Chery Automobile, as the two companies look to strengthen their strategic partnership in areas such as new vehicle development and electrified powertrain technologies.

The two companies began their collaboration in October 2024, when they signed an initial product licensing agreement allowing KG Mobility to use Chery platforms for its new product development. In 2025, the two companies signed a joint development agreement, involving broader collaboration for the local production of medium and large SUVs.

Chery’s investment in KG Mobility will help lay the foundations for deeper collaboration between the two companies, in areas such as electrical and electronic architecture, electrified powertrains, software-defined vehicles (SDVs), and autonomous driving technologies.

This long-term strategic partnership is expected to help speed up KG Mobility’s new product development cycles, allowing the company to compete more effectively in the fast-evolving global marketplace. Earlier this year, KG Mobility said it aimed to launch “at least eight” new models by 2030.

KG Mobility is a small niche player operating mainly in the global utility vehicle segment, with global sales of 56,729 units in the first half of 2026, up by 6.5% year-on-year. A strategic alliance with a global automaker, giving it access to the latest technologies, is essential for the company’s long-term growth prospects.

KG Mobility’s chairman, Kwak Jea-sun, told reporters: "Global cooperation has become essential for securing future growth engines. By combining KGM's 70 years of engineering expertise with Chery's outstanding technological capabilities, we will further strengthen our competitiveness and grow into a sustainable future mobility company."