South Korean car manufacturer KG Mobility is partnering with Chinese electric vehicle maker BYD
Co. to build a battery factory in South Korea and develop next-generation vehicles.
KG Mobility and BYD have signed an agreement at BYD’s headquarters in Shenzhen, China, to build
a battery factory in Changwon, 300 kilometers south of Seoul, and develop all-electric and hybrid
models, KG Mobility said in a statement, broadcast by Yonhap, Thursday (2 /10).
KG Mobility, formerly SsangYong Motor Co., operates a car factory in Pyeongtaek, 60 kilometers south
of Seoul, and a vehicle engine plant in Changwon.
“We plan to install batteries (which will be produced in the Korean factory) in the next model of the
Torres EVX SUV, the O100 electric pickup truck (which will be produced in late 2024) and other future
models,” said KG Mobility in that statement.
KG Mobility launched the Torres EVX in the domestic market in September.
Engineers from both companies have entered the project to develop next-generation hybrid systems
for vehicles. In collaboration with BYD, KG Mobility aims to introduce the O100 electric pickup truck ,
the Rexton-based F100 flagship SUV, and the KR10 subcompact SUV starting in late 2024.
It also plans to add a hybrid model based on the Torres SUV to its lineup in 2025. The company did
not provide a size. investment for the factory and other details.
From January to October, KG Mobility vehicle sales rose 10 percent to 102,640 units from 93,344
units in the same period last year.
KG Mobility’s product lineup currently consists of the Tivoli, Korando, Rexton, Rexton Sports, Torres,
and Torres EVX SUVs.
Source : Antara