BYD will build a power battery factory in South Korea!

According to news on August 22, foreign media kedglobal reported that BYD and KG Mobility (formerly Ssangyong Motor Company) are negotiating to establish a joint power battery factory in South Korea.

Industry sources revealed that BYD and KG Mobility plan to start large-scale construction of power battery factories in January 2025 . The factory will become BYD's first joint venture power battery factory in South Korea.

A KG Mobility official said the companies have yet to decide on details such as location and capacity.

Picture: Screenshot of webpage

People familiar with the matter further said that the factory may be built near KG Mobility's Pyeongtaek factory, about 80 kilometers southwest of Seoul.

So far, neither BYD nor KG Mobility has made an official response to the news.

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. BYD's lithium iron phosphate batteries will be used, most likely blade batteries .

The SUV will be South Korea's first new energy vehicle equipped with lithium iron phosphate batteries .

KG Mobility aims to use BYD's batteries in both its electric pickup truck, code-named O100EV, and its large electric SUV, code-named SUV-F100EV, which will be launched in 2025.

According to data, KG Mobility's original predecessor was the Hedonghuan Automobile Manufacturing Plant founded in 1954. It was renamed East Asia Motor in 1977, and Ssangyong Motor, which is familiar to the market, appeared in 1988 when the company changed owners.

At the end of 2022, South Korea's KG Group acquired Ssangyong Motors.

At the end of March 2023, the official website of South Korea's Ssangyong Motors officially changed its name to KG Mobility, marking that South Korea's Ssangyong Motors has become history.

KG Mobility started out with Jeeps and has always had a very distinct off-road gene. In the 1990s, it was also known as the "Korean Mercedes-Benz" because of its technical cooperation with DaimlerChrysler Group (Daimler-Benz).

KG Mobility is currently the fourth largest automobile manufacturer in South Korea. South Korea's top three automobile manufacturers are Hyundai Motor Company, Kia Motors Group, and Hyundai Mobis Corporation.