M&M’s South Korean unit signs pact with BYD Auto for EV battery development
23rd Dec 2021

Mahindra and Mahindra’s (M&M) South Korean unit -- SsangYong Motor Co has signed an initial pact with Chinese electric vehicle maker BYD Auto Co for EV battery development. SsangYong Motor has signed a memorandum of understanding with BYD Auto to develop car batteries and produce battery packs for its models.

The two companies plan to expand the partnership to jointly develop an EV-only platform in the long term. BYD's wholly owned battery manufacturer FinDreams Industry Co. will participate in the battery development project.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.