KG Mobility, formerly known as Ssangyong Motor, has clinched a deal with China-based electric vehicle maker BYD to set up a new EV battery pack manufacturing plant and develop a hybrid car system in Korea. KG Mobility Chairman Gwak Jae-sun, KG Mobility CEO Chung Yong-won, BYD Chairman Wang Chuanfu, BYD subsidiary FinDreams Battery Chairman He Long and other executives from the two companies participated in the signin.
KG Mobility on Thursday vowed to sell 200,000 cars in global markets by 2026, expanding its global networks from the Asia-Pacific region to Europe. The South Korean carmaker’s planned sales target consists of 200,000 exports 100,000 cars and 100,000 units of complete knock-downs unassembled car parts and 120,000 units of domestic sales in the citied period. “Based on the cumulative $1 billion exp.