KGM to Enter Ethiopian KD Business, Expand in African Market
TECHWORLD ·
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KG Mobility (KGM) has signed an MOU with B&C and Youngsan Glonet.
The agreement aims to help KGM enter the Ethiopian KD business and expand its presence in the African market.
The KD assembly plant is set to begin construction in October, with production targeted to start in the first half of 2027.
KG Mobility (KGM) has signed an MOU with B&C and Youngsan Glonet. The agreement aims to help KGM enter the Ethiopian KD business and expand its presence in the African market.
The three companies plan to build a KD plant in Ethiopia for the assembly and production of KGM vehicles. They also plan to establish a cooperation system for local sales.
B&C operates businesses in Ethiopia, including construction and aluminum manufacturing. Under this project, B&C will be responsible for securing the plant site and infrastructure, as well as building local production facilities.
Youngsan Glonet will handle the KD plant design, technical consulting and engineering support, and the supply of production equipment. It will also support all other work needed to build the plant.
Construction of the KD assembly plant is set to begin in October, with production targeted to start in the first half of 2027. KGM plans to supply more than 1,000 vehicles a year, with the lineup including eco-friendly models such as the Torres EVX and Musso EV.
B&C plans to sell KGM vehicles produced at the plant in Ethiopia's domestic market and export them to East Africa, including Somalia, Kenya, Uganda, Rwanda, and Djibouti. Through this, it aims to make Ethiopia a key hub in East Africa.
KGM CEO Hwang Ki-young said the company will enter the Ethiopian KD business and, starting with that, expand KD operations in Saudi Arabia and Vietnam within the year. He added that the company plans to strengthen its push into global markets and expand sales volume by pursuing entry into emerging markets and launching new models in each country.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407352
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Source: TECHWORLD
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