Casper to Launch as Electric Vehicle... Full-Scale Production Starts the Year After Next

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Global Motors, celebrating its 3rd anniversary, is making steady progress, having surpassed a cumulative production of 45,000 vehicles. The company will begin preparations for electric vehicle production next year and will start full-scale mass production in 2024.

Established on September 20, 2019, Gwangju Global Motors (GGM) announced this during its 3rd anniversary ceremony held on the afternoon of the 20th at the main stadium of its headquarters, declaring a second leap forward.

In his commemorative speech, CEO Park Kwang-tae stated, “We will complete the supplementary facilities for electric vehicle production ahead of schedule next year, begin phased recruitment in the second half of the year, conduct trial production in 2024, and enter mass production in the latter half of the year. By producing the Casper electric vehicle, we will establish a stable business foundation and ensure that Gwangju Global Motors firmly positions itself as the world’s leading automobile manufacturing specialist.”

The decision to accelerate the electric vehicle production schedule reflects the market trend shifting toward eco-friendly vehicles and aims to overcome the limitations of the domestic compact car market.

In other words, the strategy is to build a stable business foundation through diversification by simultaneously producing internal combustion engine vehicles and eco-friendly vehicles.

Currently, the domestic compact car market is estimated to be around 100,000 units, but demand for electric vehicles is increasing.

Therefore, Gwangju Global Motors’ electric vehicle production is expected to lead to increased production volume through market expansion.

GGM has set a production target of 50,000 units this year and is progressing steadily toward it, but as a specialized automobile manufacturer, securing stable contract production volume is crucial.

A Gwangju Global Motors official said, “Producing electric vehicles will allow us to enter not only the internal combustion engine vehicle market but also the growing eco-friendly vehicle market, securing a diverse consumer base. This will naturally lead to increased production volume, job creation, and regional economic revitalization. We are fully committed to early preparation for electric vehicle production and plan to operate a two-shift workforce linked to electric vehicle mass production.”

Automotive experts also agree that by expanding the market through electric vehicle production, Gwangju Global Motors will advance to the next level in the mid-to-long term, significantly contributing to job creation and the regional economy.

CEO Park said, “For Gwangju Global Motors to actively pursue electric vehicle production just one year after starting automobile mass production and three years after its founding means we must innovate and challenge ahead of others to overcome fierce competition and develop into the world’s best automobile manufacturing specialist. Through mutual growth and technological prowess, we will surely succeed in electric vehicle production, expand the market for the Casper currently in production, increase job creation, and become a company trusted by the public and working together with local residents.”

Meanwhile, the 3rd anniversary ceremony, held from 2:50 PM to 4:20 PM that day, was attended by all employees and featured CEO Tae’s commemorative speech, a pledge for mutual growth by all staff, a declaration of the second leap forward, and a commitment to success.

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