The successor company of Ssangyong, KG Mobility, has recently inked an agreement with BYD to establish a battery pack factory on the premises of its engine factory in Changwon, South Korea. The factory is anticipated to commence operations before the end of 2024 and will play a crucial role in supplying battery packs for various electric vehicle models, including the Torres EVX electric SUV and the O100 e-pickup scheduled for the latter half of 2024, as well as upcoming models.
KG Mobility and BYD are also engaged in collaborative efforts to develop a new hybrid drive system, which is slated for deployment in a model based on the Torres from 2025. While initial discussions in August hinted at a potential joint battery cell factory in South Korea, it has now been clarified that the battery cells will be sourced externally and assembled into packs at the new facility.
Expanding on this partnership, KG Mobility Chairman Kwak Jae-Sun remarked, “Expanding cooperation with BYD will be an opportunity to strengthen our electric vehicle lineup, including Torres EVX, KR10, and F100, and to reorganize the company’s product lineup around eco-friendly vehicles, introducing electric vehicle-exclusive platforms and launching hybrid models.”
The discussions between BYD and KG Mobility regarding the battery plant’s construction began in August, with a goal to initiate production by early 2025. While a specific start date is yet to be confirmed, an official from KG Mobility expressed optimism that the factory would be operational ahead of late 2024. Furthermore, allusions were made to the launch of a “hybrid model based on the Torres in 2025,” suggesting that production needs to be in full swing to meet this timeline.
KG Mobility underwent a rebranding from Ssangyong in April of this year, coinciding with the introduction of the Korando e-Motion. The company’s Chairman, Kwak Jae-sun, affirmed their commitment to a greener future, stating, “Our partnership with BYD will be a stepping stone for KG Mobility to make the pivot to eco-friendly cars, including the Torres EVX, the KR100, and the F100, and to introduce an all-new EV platform.” This collaboration with BYD marks a significant milestone in their transition towards eco-friendly vehicles and sustainable mobility solutions.