KG Mobility Unveils Korando EV in South Korea with 401km Range and Competitive Pricing

KG Mobility (KGM) has announced the launch of its mid-size SUV electric car, the Korando EV, in South Korea. The vehicle offers an impressive range of 401 kilometers on a single charge and is priced competitively at around 29 million won.

The Korando EV features several key upgrades, including a maximum output of 207 horsepower and a maximum torque of 34.6 kgf·m. It is equipped with a next-generation lithium iron phosphate (LFP) blade battery with a capacity of 73.4 kW, backed by a 10-year and 1 million km warranty period.

Safety and convenience are also prioritized in the Korando EV. The SUV boasts a 74% high-tensile body structure, 8 airbags, and an outdoor vehicle-to-load (V2L) connector. Additionally, it includes a reserved charging function and a state-of-the-art driving assistance system known by its 'Deep Control Package.'

The Korando EV is priced at 340.28 million won before tax benefits, and 545.44 million won after applying tax benefits. However, the price can vary depending on government and local government subsidies, ranging from 29 million won to 35 million won.

Why this matters: The launch of the Korando EV marks a significant step in the electric vehicle market, with potential to influence the adoption of eco-friendly transportation options globally. As more affordable and high-performance electric vehicles enter the market, it could lead to a shift away from traditional fossil fuel-based vehicles, contributing to a reduction in greenhouse gas emissions.

A KGM official stated, "The Korando EV is a representative electric vehicle model with affordable mileage and cost-effectiveness that provides excellent performance at a reasonable price." The company aims to lead customer demand based on high price competitiveness in the electric vehicle market.

The launch of the Korando EV comes at a time when KGM is expanding its global footprint. In May, the company reported a total sale of 8,130 units, including 4,001 units in the domestic market and 4,129 units for export. Despite a slight increase in domestic sales, the decline in export volumes contributed to an overall 17.5% decrease compared to May of the previous year.

To boost global sales, KGM is entering emerging markets in Central and South America, such as Paraguay and Honduras. The company also plans to strengthen its presence in the domestic market through the launch of various new models, including the Korando EV.

In May, KGM introduced three taxi models, including the Torres EVX and Korando Electric Vehicle (EV), plus the New Torres Bi-Fuel Liquefied Petroleum Gas (LPG). They also unveiled the Torres EVX van, the first electric sports utility vehicle (SUV) van in Korea. Following the introduction of electric taxis, KGM plans to release non-taxi models for general consumers as well.

The Korando EV's launch positions KGM to compete with other electric SUVs in the market. For example, Kia recently launched its electric SUV 'EV3' with a range of 501 kilometers at a price of around mid-30 million won after applying tax benefits.

The introduction of the Korando EV marks a significant step for KGM in the competitive electric vehicle market, offering consumers a blend of performance, safety, and affordability.

Key Takeaways

• Korando EV launched in South Korea with 401km range and 29 million won price tag.
• Features 207hp, 34.6 kgf·m torque, and 10-year/1 million km warranty.
• Safety features include 74% high-tensile body, 8 airbags, and V2L connector.
• KGM aims to lead electric vehicle market with high price competitiveness.
• Korando EV competes with Kia's EV3, offering performance, safety, and affordability.