*This content was translated by AI.
KGM CEO Hwang Ki-young announced at the strategic investment signing ceremony with Chery Automobile on the 2nd that the SE-10, a successor to Rexton scheduled for launch in 2027, will also be offered as an EREV (Extended Range Electric Vehicle).
Previously, KGM had outlined plans to sequentially introduce seven new vehicles, including 'SE10' and 'KR10', starting from mid-to-large SUVs by June last year, with the goal of continuously expanding its lineup to meet market trends and customer expectations through 2030. The company also mentioned EREV development as part of its future mobility plans covering SDV, autonomous driving, and E/E architecture. However, it was CEO Hwang Gi-yeong (CEO) who specifically confirmed plans to apply EREV technology to the SE-10, the Rexton successor.
The SE-10 is a mid-size SUV continuing the Rexton's heritage. Initially, only its planned launch in early 2027 with plug-in hybrid and 2.0L gasoline models was known. The EREV plan has now been added to this framework.
Last year, KGM signed a strategic partnership and platform licensing agreement with Chery Automobile (hereinafter referred to as Chery Lisa), formally launching joint development of mid-to-large SUVs and advanced technology cooperation. The first joint project with Chery Lisa, 'SE10', is being developed with the goal of completing development by next year, applying the 'T2X platform' to the concept car 'F100' unveiled at the 2023 Seoul Mobility Show. Kwak Jung-hyun, head of business strategy, emphasized that "building a fast and flexible development system capable of responding quickly to market changes is key to competitiveness," adding, "We will focus our efforts on providing vehicles with specifications meeting customer needs at reasonable prices."
Matters regarding the vehicle name were also addressed. KGM had tentatively decided on 'Rexton Arirang' as the name for the Rexton successor SE-10 and completed public opinion surveys and product name registration processes. However, the company drew a line by stating, "Nothing is currently finalized."
Meanwhile, Chery Automobile and KGM agreed to discuss joint investments in overseas production facilities and business bases to expand their global operations. The two companies plan to mutually utilize global production facilities, supply chains, sales networks, and service networks, and will examine specific investment methods and cooperation models for overseas strategic markets where profitability has been confirmed.
The investment amount is approximately 108.4 billion won, structured as Chery Automobile purchasing convertible bonds issued by KGM. If this investment amount is converted into equity in the future, it would result in KGM's stake being transferred to Chery Automobile at roughly 10%.
<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>
*This content was translated by AI.
