KG Mobility is set to build a battery pack manufacturing plant in South Korea, leveraging the technology of BYD, China’s largest electric vehicle manufacturer.
On Nov. 1, KG Mobility announced that it had signed a “Battery Pack Factory Construction and Hybrid System Joint Development Agreement” at the BYD Group headquarters in Shenzhen, China. The signing ceremony was attended by KG Mobility’s Chairman Kwak Jae-sun and BYD Group’s Chairman Wang Chuanfu, among others. The agreement, revealed on Nov. 2, marks a move to strengthen their strategic partnership. Back in 2021, KG Mobilityms predecessor, Ssangyong Motors, had signed a Memorandum of understanding (MOU) with BYD for technical cooperation in electric vehicle battery development and in-house production of battery packs.
After finalizing the battery pack production strategy post-agreement, both companies have decided to construct a battery pack plant on the site of KG Mobility’s engine factory in Changwon, South Gyeongsang Province. The battery packs produced there are slated for use in the medium-sized electric SUV, Torres EVX, and the electric pickup truck “O100,” which is aimed to start mass production in the latter half of next year.
KG Mobility explained that through the cooperation with BYD, which holds world-leading technology in battery cells and packs, it has secured the driving force necessary for the development of next-generation electric vehicles. This agreement also provides BYD with a foothold to enter the Korean electric vehicle market.
Having already commenced the joint development of next-generation hybrid systems, KG Mobility and BYD are set to intensify their collaboration in hybrids. They plan to expand their lineup starting with a hybrid model based on the Torres around 2025.