Chirey will invest $75 million in the South Korean car company KGM and plans to collaborate in new business areas such as robotics and semiconductors.

On August 3 local time, South Korean automaker KG Mobility announced the signing of a strategic investment agreement with Chery Automobile. According to the agreement, Chery will invest $75 million in KGM and will conduct or expand cooperation in areas such as accelerating new vehicle development, autonomous driving, and cutting-edge electronic and electrical architectures based on SDV. The two companies also discussed specific cooperation plans in future new business areas beyond automobiles, focusing on sectors such as robotics and semiconductors, and agreed to explore the potential for joint research, pilot projects, and commercialization.