Chery Automobile to acquire 10% stake in South Korea’s KG Mobility through $75M investment

Chery Automobile has agreed to invest $75 million in South Korea’s KG Mobility (KGM) through convertible bonds. If the bonds are fully converted into shares, Chery will hold around 10% of KGM’s equity. The move marks a significant step in Chery’s efforts to strengthen its overseas presence and deepen international partnerships.