- KG Mobility, formerly SsangYong Motor Company, has announced an agreement with leading Chinese electric car giant, BYD, to cooperate on electric powertrains.
- The partnership will result in a battery pack factory in KG Mobility’s home turf of Korea.
- The move will help the company with the production of its Torres EVX, KR10, and F100 electric models, along with future pure-electric and hybrid offerings.
South Korean automotive giant KG Mobility has announced an agreement with BYD, which will result in the co-development of next generation electric and hybrid vehicles between the two auto conglomerates. This includes three future models for KG Automotive, codenamed the KR10, a sub-compact SUV, the F100, a full-size SUV, and the O100, a pickup truck. In addition, the partnership will result in a new battery factory in South Korea, to produce a new electric powertrain for the existing Torres EVX model.
With the help of BYD’s electric expertise, this move could be just what KG Mobility needs to kickstart its electric transition, which has largely remained untapped by the company so far. The news comes hot on the heels of the news that Honda and General Motors’ electric partnership to create more affordable EVs will be scrapped. But, with KG Mobility’s history of creating affordable fossil fuel-powered vehicles under the soon-defunct SsangYong marque, we’ll be waiting to see whether this value for money will translate into the electric era.
“By expanding the line-up of eco-friendly vehicles through cooperation with BYD for the joint development of next-generation hybrids, KG Mobility has laid a strong foundation for more stable growth. This collaboration is especially significant as it allows us to secure future competitiveness by ensuring a stable supply of core components and developing new vehicles with cutting-edge electrical/electronic integration technologies.”
Jae-seon Kwak, Chairman, KG Mobility