SHENZHEN: South Korea's KG Mobility has signed an agreement with Chinese electric vehicle maker BYD to develop electric and hybrid vehicles.
The agreement, which took place at BYD Group's headquarters in Shenzhen, China, will see battery packs produced in Korea integrated into the Torres EVX and the company's new BEV pick-up, scheduled for mass production in the second half of 2024.
KG Mobility, formerly known as SsangYong Motor, aims to strengthen its electric vehicle lineup, including the Torres EVX, KR10, and F100, and reorganise its product range to focus on eco-friendly vehicles.
The company plans to introduce a dedicated electric vehicle platform and launch hybrid products.
KG Mobility CEO, Jeong Yong-won said the collaboration with BYD will allow the company to secure future competitiveness by ensuring a stable supply of core components and developing new vehicles with cutting-edge electrical/electronic integration technologies.
The agreement follows joint development work between the two companies on a next-generation hybrid system, with plans to expand the lineup starting with a Torres-based hybrid model in 2025.
KG Mobility said it is committed to the advancement of electric vehicles and sees them as a pivotal element in its next-generation growth strategy.
The company recently completed a restructuring of its research institute to bolster electric vehicle development capabilities and ensure success in hybrid development.
KG Mobility chairman Kwak Jae-seon said the company aims to provide safe, affordable, high-performance electric vehicles that meet the needs of its customers.
The Torres EVX, which offers a 10-year, 1 million km battery warranty, has received an excellent response from domestic electric vehicle consumers.
The collaboration with BYD will further strengthen KG Mobility's electric vehicle lineup and allow it to deliver the utmost safety and assurance to its customers through the application of battery packs produced by KG Mobility in the future.
