Chinese EV Manufacturer plans new Battery Pack Plant in Korea
17. November 2023Automotive firm KG Mobility, specializing in sports utility vehicles and formerly known as SsangYong Motor, announced a collaborative venture with the Chinese electric vehicle manufacturer BYD. This initiative is poised to spearhead the development of innovative electric and hybrid vehicle models. For battery products, for E-Mobility and other areas, KC certification, KCs certification or other Korean product certifications are often required to be approved for the Korean market.
The agreement for this joint endeavor was formalized at BYD’s head office in Shenzhen. Both companies are looking to capitalize on this synergy to foster the creation of next-generation vehicles. KG Mobility operates automobile production facilities and engine manufacturing plants in Korea, and has set its sights on bolstering its electric vehicle lineup. Due to battery supply shortage, some automotive models, like the Korando Emotion, could not have their EV variants introduced to the domestic market. As a solution, the partnership is set to establish a new facility dedicated to producing battery packs in Changwon, situated 300 kilometers from Seoul. With the anticipated upsurge in battery pack output, the company is preparing to launch several models, including the electric O100 pickup truck, KR10 SUV, and others with plans to roll out these vehicles starting in late 2024.
KG Mobility has faced challenges introducing its first EV model in the South Korean market, primarily due to constraints in battery availability, which has been a prime motivator for the partnership initiative with BYD. One of the most important battery products of the company are lithium iron phosphate (LFP) batteries, which are lauded for their superior safety, high-energy capacity, and longevity.
Details regarding the financial investment and other specifics related to the new battery pack plant were not disclosed by the company.
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