Asian Tech Press (Dec 22) -- South Korea's SsangYong Motor said it had signed a power battery development contract and a memorandum of understanding with China's BYD Co. for cooperation on battery pack production technology.

It is reported that the battery developed by the two sides will be used in Ssangyong's U100 electric car, which is scheduled for mass production in 2023. The two companies will also jointly develop battery packs and a dedicated platform for electric vehicles to expand the scope of cooperation.

It is understood that the data previously released by market research institute SNE Research shows that in October this year, the global installed power battery volume was 26.2GWh, down 20.4% from the previous year, of which CATL was the first and BYD the fourth.

In addition, BYD is also in the leading position in terms of battery technology. As lithium iron phosphate batteries, this product is safer than ternary lithium batteries and safer than the general lithium iron phosphate batteries. The BYD blade battery uses the latest advanced manufacturing process, has a better current density, heat dissipation performance, and can also achieve a longer life span.