KG Mobility and BYD have agreed to expand their strategic partnership. This includes a battery pack factory agreement in Korea and an agreement to jointly develop next-generation hybrid systems.
The decision to expand future collaborations between the two companies was made to build on the successful launch of the Torres EVX.
Both companies have already begun joint development of the next-generation hybrid system with plans to expand its lineup, starting with a Torres-based hybrid model in 2025.
Kwak Jae-seon, KG Mobility Charirman, says: “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.”
Jeong Yong-won, KG Mobility CEO, comments: “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. This collaboration is especially significant as it allows us to secure future competitiveness by ensuring a stable supply of core components and developing new vehicles with cutting-edge electrical/electronic integration technologies.”
The headquarters for KG Mobility is in the Gangnam district of Korea’s capital, Seoul, and its principal vehicle manufacturing plant is currently at Pyungtaek, which has the capacity and latest technology to produce 240,000 cars a year.