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[Alpha Biz=(Chicago) Reporter Kim Jisun] KG Mobility has decided to build a domestic battery pack production plant in collaboration with Chinese secondary battery and electric vehicle company BYD.
KG Mobility announced today (2nd) that it has signed an agreement to build a battery pack plant and jointly develop a hybrid system at its BYD Group headquarters in Shenzhen on the 1st with KG Mobility Chairman Kwak Jae-sun and BYD Group Chairman Wang Chuanfu.
Previously, in 2021, Ssangyong Motor, the predecessor of KG Mobility, signed a technical cooperation agreement (MOU) with BYD to develop electric vehicle batteries and produce packs themselves.
Based on this, the two companies, which have specified how to produce battery packs, have decided to build a battery pack plant on the site of KG Mobility's Changwon engine plant.
The plant will produce battery packs for Torres EVX, a medium-sized electric sport utility vehicle (SUV), and O100, an electric pickup truck aimed at mass production in the second half of next year.
KG Mobility explained that it has secured a driving force for the development of next-generation electric vehicles through cooperation with BYD, China's largest electric vehicle maker and China's second-largest secondary battery maker after CATL.
BYD has also set the stage for entering the Korean electric vehicle market through this agreement.
In addition, the two companies jointly developing next-generation hybrid systems plan to launch a Torres-based hybrid model by 2025 and expand their hybrid lineup.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
