KG Mobility Will Co-Develop EVs With BYD

Photo: KG Mobility. KG Mobility Corporation, formerly SsangYong Motor Company, has announced a collaboration with China's BYD Company to develop next-generation battery electric vehicles (BEVs) and plug-in hybrid vehicles.

This week, the South Korean SUV manufacturer signed an agreement at BYD's headquarters in Shenzhen, China. The two companies intend to collaborate on the development of a new battery-powered and plug-in hybrid model lineup, which will include a new pickup truck codenamed O100, a sub-compact SUV codenamed KR10, and a new flagship SUV based on the Rexton codenamed F100. The first models should be available by late 2024.

The agreement calls for battery packs manufactured in Korea to be integrated into the Torres EVX and the company's new BEV pick-up, which is set to go into mass production in the second half of 2024, as well as other relevant vehicle models.
"KG Mobility embarked on a journey of change and development as a mobility company by changing its name last March," said Kwak Jae-seon, Chairman of KG Mobility. We began with the Torres EVX, with the goal of providing safe, affordable, high-performance electric vehicles that meet 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.

A new electric and plug-in hybrid vehicle battery pack plant will be built in Changwon, South Korea, near KG Mobility's existing engine plant. The size of the new investment has not yet been disclosed. The automaker has a 300,000-unit-per-year vehicle assembly plant in Pyeongtaek, about 60 kilometres south of Seoul.