BYD and KG Mobility plan to build electric vehicle battery factory in South Korea

CTOnews.com August 22 news, according to foreign media kedglobal reported that BYD and KG Mobility (formerly known as Ssangyong Motor Company) are in talks to build a joint battery factory in South Korea. According to industry sources, BYD and KG Mobility plan to start large-scale construction of battery pack plants in January 2025. The factory will be its first joint venture in the country. An KG Mobility official said the two companies had not yet decided on details such as location and capacity.

CTOnews.com learned from industry sources that the plant could be built near the KG Mobility Pyeongtaek plant, about 80 kilometers southwest of Seoul.

It is worth mentioning that KG Mobility plans to install lithium iron phosphate batteries for its medium-sized SUV electric model Torres EVX, which will be launched in September, and will work with BYD to purchase battery packs in China. The SUV is the first electric vehicle in South Korea to be equipped with lithium iron phosphate battery.

KG Mobility aims to use BYD's batteries on the 2025 electric pickup truck codenamed O100EV and the large electric SUV codenamed SUV-F100EV.