KG Mobility (KGM) says it has secured a $75 million strategic investment from China’s Chery Automobile to support new vehicle development and future mobility technologies. The companies describe the funding as an additional step in an evolving alliance that extends beyond product collaboration into a longer-term strategic partnership focused on future growth.
KGM and Chery link the investment to prior agreements: a platform licensing deal signed in October 2024 and a joint development arrangement for mid-sized and large sport utility vehicles reached in April 2025. The cooperation also includes plans to expand work in areas tied to next-generation vehicles, including software-defined vehicles, electrical and electronic architecture, autonomous driving, and electrification.
A TechNode report says Chery’s investment is carried out through convertible bonds, and that full conversion would give Chery a stake of about 10% in KGM’s equity. KGM Chairman Kwak Jea-sun frames global cooperation as important for securing future growth, citing the companies’ combined engineering and technology capabilities.
