New Delhi

SsangYong Motor Co, the South Korean unit of Indian carmaker Mahindra and Mahindra, said on Wednesday it has signed an initial pact with Chinese electric vehicle maker Byd Auto Co for EV battery development. SsangYong Motor has signed a pact with Byd Auto to develop car batteries and produce 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. Byd’s wholly-owned battery manufacturer FinDreams Industry Co will participate in the battery development project.