Mahindra-owned South Korean vehicle manufacturer SsangYong Motor Co is now looking to focus on electric vehicles. On December 22, SsangYong signed an MoU with China's BYD for development of key EV component batteries and manufacturing of battery packs, says a report.
As per the update, the batteries developed under the partnership will be supplied for SsangYong Motor’s first EV model codenamed 'U100', which is under development and planned for mass production from 2023. The partners will also look to expand the cooperation for join development of battery packs and EV-only production platforms.
Furthermore, despite the threat of Omicron, SsangYong is expected to send its research staff to BYD. The Korean OEM is optimistic that the cooperation will help secure stable supply system as well for fast migration to eco-friendly vehicles for future growth engines.
Jung Yong-won, SsangYong Motor’s executive VP and legal manager said, “Through the partnership with BYD, SsangYong Motor now is able to pursue mobility shift to EVs faster than earlier. We expect the cooperation will also guarantee stable supply of key components for EVs such as batteries in the long term.”