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[Alpha Biz=(Chicago) Reporter Paul Lee] KG Mobility (KGM) makes Torres electric cars in Saudi Arabia.
KGM announced on the 18th that it will expand its strategic cooperation plan by signing an MOU with Saudi SNAM to assemble and produce Torres EVX.
Under the MOU, SNAM plans to produce an electric vehicle, the Torres EVX, in addition to the previously contracted internal combustion engine models Rexton Sports & Khan and Rexton New Arena.
KGM signed a product license agreement with SNAM in 2019 and 2020 and signed a KD supply contract in 2022.
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