KG Mobility has formalized an agreement with BYD, the electric vehicle powerhouse, to jointly craft a new breed of electric and hybrid vehicles, heralding an era of advanced eco-friendly transportation.
The ceremony at BYD Group’s headquarters marked the commencement of this ambitious collaboration. Representatives from both entities were present at the official signing event.
This partnership aligns with the launch of the Torres EVX and sets the stage for the integration of Korean-produced battery packs into this model, a new BEV pickup, and a series of other models slated for release. Anticipation for these vehicles is high, with mass production targeted for the latter half of 2024.
KG Mobility’s strategic move towards electric vehicles signifies a core component of its expansion strategy. The collaboration with BYD aims to leverage the latter’s expertise in electric vehicle battery technology to ensure KG Mobility’s robust and sustainable growth.
Preceding the formal agreement, teams from both companies were deep into the development of an innovative hybrid system. This initiative is expected to bear fruit with a hybrid model based on the Torres platform by 2025 and will include a series of plug-in hybrid options.
KG Mobility’s Chairman Kwak Jae-sun reflected on the transformative path of KG Mobility, emphasizing the launch of the Torres EVX as the outset of providing high-performance, cost-effective, and secure electric vehicles that cater to consumer demands.
Chairman Kwak underscored the partnership’s potential to bolster KG Mobility’s portfolio, “We anticipate that this expanded cooperation with BYD will strengthen our electric vehicle lineup, including the Torres EVX, KR10, and F100 while reorganizing our product range to focus on eco-friendly vehicles. This includes introducing a dedicated electric vehicle platform and launching hybrid products.”
Highlighting the company’s dedication to customer trust and product reliability, Chairman Kwak proudly mentioned the Torres EVX’s industry-leading 10-year, 1 million km battery warranty.
CEO Jeong Yong-won commented on the strategic implications of the collaboration, “By expanding the line-up of eco-friendly vehicles through cooperation with BYD for the joint development of next-generation hybrids, KG Mobility has laid a strong foundation for more stable growth.”
This strategic alliance enables KG Mobility to secure critical components and blend BYD’s advanced electrical and electronic integration technologies, positioning the company to navigate the competitive landscape of sustainable automotive innovation. With these industry titans at the helm, the future of environmentally responsible mobility looks bright.
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