Ssangyong could be renamed to KG Mobility

Over the course of its history, the company has been owned by multiple other automakers including Daewoo, SAIC and Mahindra & Mahindra, before being bought by KG Group.

Ssangyong, previously owned by Mahindra & Mahindra, was acquired by KG Group last year. Now, the new owners are looking to rename the car brand altogether.

According to reports, KG Group chairman, Kwak Jae-sun, confirmed that the brand Ssangyong will be renamed to "KG Mobility" sometime later this year, with all its product receiving the KG logo. Kwak stated that while the "Ssangyong Motor" has a good fandom, there is also a painful image attached. The Group chairman confirmed that going forward all Ssangyong cars will come out under the name of KG.

Once the name change gets the green light, the company will undergo a complete marketing overhaul, including a new brand logo and corporate identity. Reports also suggest that while the name change will be an extremely difficult situation, it does signal a potential shift in the brand's business strategy from a traditional carmaker to a mobility firm.

KG Group is also yet to confirm if the name change will also come with a completely new product portfolio, or build on the ambitions of becoming a global brand. Ssangyong currently operates in a few international markets like Australia & Europe.

The South Korean brand was originally founded in 1954, with the first Ssangyong-branded vehicles coming in the 1980s. Over the course of its history, the company has been owned by multiple other automakers including Daewoo, SAIC and Mahindra & Mahindra, before being bought by KG Group.

Source: The Korea Herald