South Korean carmaker KG Mobility partners with Chinese EV maker BYD to build battery pack plant
Seoul, Nov 2 (@DelhiBreakings.com) ★KG Mobility, a South Korean SUV-focused carmaker, has announced a partnership with Chinese electric vehicle manufacturer BYD Co. to establish a battery pack plant in Korea and jointly develop next-generation vehicles.
Battery pack plant in Changwon
KG Mobility and BYD have signed an agreement at BYD’s headquarters in Shenzhen to build the battery pack plant in Changwon, located 300 km south of Seoul. The collaboration will involve the development of all-electric and hybrid models, according to a statement by KG Mobility.
Investment plans and vehicle lineup
The company plans to install the battery packs produced at the Korean plant in upcoming models such as the Torres EVX SUV and the electric pickup truck O100, set to be produced in late 2024. KG Mobility also aims to introduce the Rexton SUV-based F100 flagship SUV and the subcompact SUV KR10 starting from late 2024. Additionally, the company plans to add a hybrid model based on the Torres SUV to its lineup in 2025.
Current and future models
KG Mobility’s current lineup includes the Tivoli, Korando, Rexton, Rexton Sports, Torres, and Torres EVX SUVs. The Torres EVX, launched in September, is the company’s second electrified model after the Korando Emotion, which was launched in February 2022. The company has exported the Korando Emotion but has faced battery supply issues, preventing its availability in the domestic market. The EVX is equipped with a 73.4 kWh lithium iron phosphate (LFP) battery, providing a range of up to 433 km on a single charge. The battery comes with a 10-year and 1 million-km warranty.
Partnership goals
With the collaboration with BYD, KG Mobility aims to leverage the expertise of both companies to develop a next-generation hybrid system for vehicles.
Sales and production
From January to October, KG Mobility saw a 10 percent increase in vehicle sales, reaching 102,640 units compared to the same period last year. The company operates a car manufacturing plant in Pyeongtaek, 60 km south of Seoul, and a vehicle engine plant in Changwon.
Summary:
- South Korean carmaker KG Mobility has partnered with Chinese EV manufacturer BYD to build a battery pack plant in Changwon, South Korea.
- The collaboration aims to develop all-electric and hybrid models, including the Torres EVX SUV and the O100 electric pickup truck.
- KG Mobility plans to introduce the F100 flagship SUV, the KR10 subcompact SUV, and a hybrid model based on the Torres SUV in the coming years.
- The company’s current lineup includes the Tivoli, Korando, Rexton, and Torres models.
- KG Mobility’s sales have increased by 10 percent from January to October, reaching 102,640 units.
–@DelhiBreakings.com
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