KG Mobility has signed a “Battery Pack Korea Factory Agreement” along with a “Next-Generation Hybrid System Joint Development Agreement” with global electric vehicle leader BYD to respond to the eco-friendly future vehicle market.
The signing ceremony took place on November 1 at BYD Group’s headquarters in Shenzhen, China, attended by KG Mobility’s Chairman Kwak Jae-Sun, CEO Jung Yong-Won, Research Center Director Kwon Yong-Il, and BYD chairman Wang Chuanfu, FinDreams Battery CEO He Long, and FinDreams Powertrain CEO Luo Hongbin, among others. They decided to expand future cooperation based on the successful launch of the Torres EVX.
The signing of the “Battery Pack Korea Factory Agreement” was conducted between CEO Jung Yong-Won and He Long, where the battery packs produced in Korea will be used in the Torres EVX and the O100, which is under development for mass production in the second half of 2024, with plans to extend this to future vehicle models.
KG Mobility aims to accelerate the development of electric vehicles as a core growth driver by establishing close technological cooperation with BYD, which boasts top-tier technology in electric vehicle battery cell and pack sectors, thus laying the foundation for sustainable growth.
The next signing ceremony for the “Next-Generation Hybrid System Joint Development Agreement” was conducted between CEO Jung Yong-Won and Luo Hongbin.
Prior to this agreement, both companies’ research teams had already begun collaborative development on the next-generation hybrid system, aiming to expand their hybrid lineup starting with a hybrid model based on the Torres in 2025.
Additionally, plans are in motion to concurrently develop a plug-in hybrid, and they recently completed a reorganization of their research facility to enhance their electric vehicle development capabilities and ensure the success of hybrid development.
Kwak Jae-Sun stated, “With the name change in March and our first step towards transforming and developing into a mobility company, KG Mobility has introduced safe, rational, and high-performance electric vehicles that meet the needs of EV customers with the launch of the Torres EVX.” He added, “Through our expanded cooperation with BYD, we expect to strengthen our electric vehicle lineup, including the Torres EVX, KR10, and F100, while introducing a dedicated electric vehicle platform and launching hybrid products, thus reshaping our product line towards eco-friendly vehicles.”
Kwak Jae-Sun also remarked, “KG Mobility’s development direction can be confirmed in the recently launched Torres EVX. We are receiving great response from domestic EV consumers with our declaration of a 10-year, 1 million km battery warranty, and we will continue to promise the highest safety and guarantees to our customers through the application of battery packs manufactured in-house.”
CEO Jung Yong-Won stated, “The partnership with BYD for next-generation hybrid joint development will provide a more stable foundation for KG Mobility’s growth through the enhancement of our eco-friendly vehicle lineup.” He emphasized, “This collaboration is significant for securing future competitiveness through stable supply of core hybrid components and the development of new vehicles utilizing advanced electric/electronic integration technologies.”
Lee Sang-Jin daedusj@autodiary.kr