South Korean automaker KG Mobility (formerly SsangYong Motor Company) has recently signed strategic agreements with the BYD Group for setting up a battery pack factory in Korea and develop next-generation hybrid systems, as part of former's reorganization towards eco-friendly vehicles.
The companies had already embarked on joint development of the next-generation hybrid system with plans to expand its lineup, starting with a Torres-based hybrid model in 2025.
The agreement will see battery packs produced in Korea integrated into the Torres EVX and the company's new BEV pick-up, which is scheduled for mass production in the second half of 2024, and in other applicable vehicle models.
Chairman of KG Mobility Kwak Jae-seon commented on the development, "KG Mobility embarked on a journey of change and development as a mobility company by changing its name last March. We started with the launch of the Torres EVX, aimed at providing safe, affordable, high-performance electric vehicles meeting the needs of our customers."
"We anticipate that this expanded cooperation with BYD will strengthen our electric vehicle lineup, including the Torres EVX, KR10, and F100, while reorganizing our product range to focus on eco-friendly vehicles. This includes introducing a dedicated electric vehicle platform and launching hybrid products", he added.
Plans are in place to concurrently develop plug-in hybrids as well. In this regard, a restructuring of KG Mobility's research institute was recently completed to bolster electric vehicle development capabilities and ensure success in hybrid development.
The company remains committed to the advancement of EVs, which constitute a pivotal element in the next-generation growth strategy of the company. This close technical partnership with BYD, renowned for its exceptional technological expertise in EV battery technology, aims to secure the company's continued and sustainable growth, it claims.
"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", noted Jeong Yong-won, CEO of KG Mobility.
He further added that the collaboration allows both the companies to secure future competitiveness by ensuring a stable supply of core components and developing new vehicles with cutting-edge electronics integration technologies.
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