Chery Automobile has made a strategic investment of US$75 million in South Korea's KG Mobility Corp through convertible bonds. Upon conversion, Chery will secure roughly a 10% stake in the company. The two entities are set to explore collaborative ventures across various domains, including shared production capacity, manufacturing processes, sales channels, and brand development. Additionally, they will establish a joint working group to delve deeper into potential cooperation in cutting-edge fields such as semiconductors and robotics. As China's foremost automobile exporter, Chery is actively devising strategies to penetrate the US market. However, this endeavor is contingent upon meeting the pertinent regulatory requirements set forth by US authorities. Meanwhile, KG Mobility, leveraging Chery's T2X platform, plans to unveil its medium-sized SUV, the SE-10, in January next year. This model will be available in both fuel-powered and plug-in hybrid variants, catering to both domestic and international markets in South Korea. At present, KG Mobility has no immediate plans to export to the US market. Nonetheless, the company remains receptive to the prospect of future expansion into that territory. Formerly known as SsangYong Motor, KG Mobility reported sales exceeding 55,000 vehicles in the first half of this year, with exports contributing to approximately 60% of that total.