"Chinese Automaker Chery Makes Major Play in South Korea with $75 Million Investment In a significant move to expand its global reach, Chinese automaker Chery is investing $75 million in South Korean electric vehicle (EV) manufacturer KG Mobility. The investment, made through convertible bonds, could potentially give Chery a 10 percent stake in the company. This partnership is expected to provide Chery with access to KG Mobility's overseas distribution networks, marking a key step in the company's efforts to break into the global EV market. As the world's largest EV market continues to grow, Chery's move into South Korea could be a strategic play to tap into the region's thriving automotive sector."
Chery will invest $75 million in South Korean automaker KG Mobility through convertible bonds that could give it a 10 percent stake. The partnership provides Chery access to overseas distribution ...
