BYD and KG Mobility to build new EV battery factory

BYD is apparently wooing South Korean automaker KG Mobility (formerly Ssangyong Motor Co) for a partnership. The goal is to build a battery cell plant in South Korea.

There's a massive logistical advantage to sourcing battery packs close to car factories. It streamlines production, cuts down delays, and is overall a smarter way to roll out electric vehicles (EVs) more efficiently. In a world where waiting more than two days for an Amazon package feels like an eternity, KG Mobility partnering with BYD for locally sourced battery packs sounds like a forward-thinking move.

The latest report in the Korea Economic Daily suggests that this joint venture, if it takes off, will kickstart its mass production by January 2025 and it'll be the first joint venture of its kind in South Korea.

KG Mobility is eyeing the introduction of lithium iron phosphate (LFP) batteries in their upcoming mid-sized electric SUV, the Torres EVX. The Torres is set to be the pioneer electric vehicle in South Korea to sport these LFP batteries.

Interestingly, this joint venture is not a new fling - KG Mobility and BYD have been in cahoots since 2021. Their plans are pretty set in stone, with BYD's batteries being eyed for a mysterious electric pickup truck (code: O100EV) and a sizable electric SUV (code: SUV-F100EV). Both are anticipated in 2025.

BYD got the silver medal for installed power batteries worldwide, with a 15.7% share as of the first half of 2023. Now, while that might not be gold (that's CATL, strutting around with a 36.8% share), it's still pretty darn impressive.

Via