Name change for carmaker
Goodbye SsangYong, hello KGM – there’s a new face and name for this Korean brand, writes Matthew Hansen.
Almost three decades after its New Zealand inception, Korean carmaker SsangYong has confirmed that it will officially change its corporate face and name later this month. Best known for its SUVs and utes, SsangYong will soon become KGM Motors — or more simply KGM.
The change comes after SsangYong’s lengthy search for a new owner following its split with Mahindra and filing for bankruptcy in 2020. KG Group was approved as the marque’s new owner in August last year.
KG Group might not be a household name here, but in Korea it is a significant conglomerate specialising in chemical and steel creation. Its acquisition of the marque represents a clean slate, underlined by the launch of the new Torres crossover.
The Torres, which will be the brand’s first fully fledged KGM-branded model, will enter the New Zealand market this month.
“We are thrilled to have the chance to start afresh with KGM and will be investing significantly in the brand,’’ said KGM New Zealand head of brand marketing Daile Stephens. “We have a lot of faith in the KGM product, which comes with a solid engineering base and produces well-spec’d, reliable vehicles.”
“This is an exciting time for us all as we reveal a refreshed, modern brand identity alongside the development to support the launch of new KGM products and technologies.
“Our aim is to elevate the offering of innovative KGM products in New Zealand with a refreshed brand identity, breaking away from the ordinary,” Stephens said.
SsangYong’s New Zealand journey began in the mid-1990s with the Musso and Korando. These days, the brand offers four models; the Tivoli compact crossover, Korando SUV, Rexton 7-seater SUV and Rhino ute.
Stuff recently reviewed the recently updated Rexton and Rhino ute, both of which feature mild KGM branding on their exterior and in their software.
The new Torres will become the brand’s fifth nameplate.
Whilst local spec for the model has yet to be confirmed, overseas it is sold with a 120kW/280Nm 1.5-litre turbocharged 4-cylinder engine and either front-wheel drive or all-wheel drive.
There is also a fully electric version called the Torres EVX, a likely starter for the New Zealand market.
It comes with a 73.4kWh battery and a single-motor powertrain rated for 150kW/339Nm. Overseas, range is rated at approximately 460km.
The Torres EVX’s battery is sourced from BYD, which gives the model a legitimacy among fans of BYD’s ‘Blade’ battery technology. It also boasts a commendable towing capacity of 1500kg, and vehicle-to-load functionality.