BYD will assist Ssangyong in manufacturing batteries for electric vehicles
BYD, a Chinese automaker, has agreed to provide its expertise to Ssangyong in the development of electric vehicle batteries (EVs). The U100 EV, which is expected to debut in 2023, will be the alliance's first electric vehicle. However, because Mahindra is selling Ssangyong to a new firm, we are unlikely to see similar BYD batteries in Mahindra vehicles.
The U100 will not be Ssangyong's first foray into the electric vehicle market. In its native market of South Korea, it already sells the Jeep Compass-sized Ssangyong Korando e-Motion SUV. It's a 62kWh battery-powered electric SUV with a stated range of 339 kilometres.
Hyundai and Kia, Ssangyong's domestic market rivals, have already proved that electric cars are the way of the future. Ssangyong's transition away from traditional vehicles and SUVs will be difficult, but the company is banking on sophisticated battery packs created in China by BYD. In late 2020, the Korean automaker filed for bankruptcy and requested legal protection to keep afloat.
In Korea, a judicial receivership allows the judge to determine how to resurrect the business. Ssangyong is no longer on the verge of extinction, thanks to the intervention of Korean bus manufacturer Edison Motor, which has taken over the firm, ended the receivership and saved the automaker from extinction.
The XUV300 Electric SUV and the eKUV100 hatchback are two electric vehicles that the company plans to release in 2022.
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