SK Geo Centric signs deal with Cevo Mobility, maker of mini EVs

Industry

Published: 03 Sep. 2021, 15:22

SK Geo Centric signs deal with Cevo Mobility, maker of mini EVs

Bae Sung-chan, left, head of automotive business of SK Geo Centric, and Kwak Yong-seon, an executive from Cevo Mobility, pose for a photo after signing an agreement to cooperate on developing lightweight materials for electric vehicles in SK Group's headquarters in Jongno District, central Seoul on Friday. [SK GEO CENTRIC]

SK Geo Centric has joined forces with Yeonggwang, South Jeolla-based micro electric vehicle (EV) maker Cevo Mobility to cooperate on developing lightweight materials that can be used in making small EVs, the company said Friday.

Spun off from CammSys in April, Cevo Mobility is the country’s largest micro EV manufacturer by sales. It sold a total of 890 two-seater CEVO-Cs. In May, the company introduced an upgrade model CEVO-C SE, which can go 75.4 kilometers (46.9 miles) per charge and has a maximum speed of 80 kilometers per hour.

Under the terms of the agreement, the two Korean companies will jointly develop and demonstrate new materials that can lighten EVs.

SK Geo Centric, formerly known as SK Global Chemical, said it sees the agreement as an opportunity to “expand its business portfolio to micro EVs.”

Cevo Mobility will look forward to strengthen its EV lineup by developing four-seater cars and trucks in the future. It aims to enter other Asian countries including China and Vietnam next year.

“This agreement is meaningful that a car maker and a car material company promised to work together to develop lightweight materials, which will help boost the value chain of the country’s EV industry,” said Bae Sung-chan, head of SK Geo Centric’s automotive business. “Starting with this, SK Geo Centric will endeavor to expand its eco-friendly material business in the mobility sector."

BY SARAH CHEA [chea.sarah@joongang.co.kr]