KR Motors Launches Future-Oriented Electric Vehicle Sales in Partnership with Green Mobility

[Asia Economy Reporter Jang Hyowon] KR Motors announced on the 20th that since acquiring Green Mobility, the 4th largest company in the electric two-wheeler industry, in February and signing a formal business agreement, the synergy between the two companies has begun to manifest in earnest.

Green Mobility, acquired by KR Motors to secure competitiveness in the future mobility industry, is a company highly regarded for its technology in the electric two-wheeler/three-wheeler industry. It possesses differentiated design technology in the electric mobility field, vehicle design and analysis technology, IoT·ICT convergence, web·app-based social platforms, and vehicle management software technology capabilities.

Through this business agreement, the two companies will jointly conduct ▲ joint research and development (development of new technologies and new models, and sharing of existing model platforms) ▲ sharing of sales networks ▲ sharing of service infrastructure ▲ sharing of production infrastructure (including China JV) ▲ joint response to changes in the eco-friendly new mobility market ▲ exchange and training of human resources.

Green Mobility can now utilize KR Motors’ nationwide distribution and service network of over 300 outlets, resolving its biggest weakness of expanding sales/service networks, resulting in increased brand awareness of its products as well as visible achievements such as sales growth through expanded sales channels.

In fact, supported by the government’s policy to expand electric vehicle distribution, Green Mobility received orders for over 920 electric vehicles in the first half of this year alone, surpassing last year’s annual sales volume of 672 units, and plans to strengthen its lineup by adding new models, including the launch of seven electric two-wheeler models in the second half of this year.

Additionally, the two companies plan to launch new models consecutively at the end of May. KR Motors will release high-performance, popular electric two-wheelers, while Green Mobility will launch practical and multipurpose electric three-wheelers.

Going forward, the two companies intend to actively utilize KR Motors’ existing production facilities and skilled human resources to improve production efficiency. By sharing platforms for developed vehicles and standardizing and commonizing parts, they plan to gradually secure cost and quality competitiveness by reducing R&D costs and shortening development periods.

A KR Motors official stated, “KR Motors, which has made bold investments and efforts for a successful transformation into an e-mobility company, will accelerate the development of future electric two-, three-, and four-wheel vehicles through strengthened cooperation with Green Mobility, which possesses innovative technology, securing a diverse lineup for electric vehicle sales. We will not only preoccupy the rapidly expanding domestic electric vehicle market in line with government policies but also expand sales to global markets such as Europe and Southeast Asia, becoming a market leader that leads the entire e-mobility ecosystem, thereby enhancing corporate and shareholder value.”

This content was produced with the assistance of AI translation services.