SsangYong Motor Co, the South Korean part of Indian automaker Mahindra and Mahindra Ltd, announced that it has struck an initial agreement for EV battery research with Chinese electric vehicle manufacturer BYD Auto Co.
In a statement, SsangYong Motor said it has signed a memorandum of understanding with BYD Auto to develop automobile batteries and create battery packs for its models.
“The partnership with BYD will pave the way for the company’s plan to transform itself into an EV maker in the era of electrification,” said court-appointed administrator Chung Yong-won.
