GM to partner LG for ongoing EV research and development
The definitive agreement signed on August 24 will help GM expand the number and types of electric vehicles it makes and sells by using LG’s proven expertise in batteries and other systems. For LG, the arrangement represents a widening of its portfolio as an automotive solution provider.
Steve Girsky, GM vice chairman, said: ‘Many solutions for tomorrow’s transportation needs may be available more quickly by building on our partnership strategy. Consumers benefit by getting the latest fuel-saving technology faster if we work with the best suppliers and we save time and money in the development process.’
The GM-LG relationship that began with LG delivering the cells for the battery pack of the Chevrolet Volt and Opel Ampera expanded last year with work on a demonstration fleet of Chevrolet Cruze electric vehicles. These vehicles were used as official vehicles of the G20 summit in Seoul are now in the phase of market-testing to learn more about capabilities and requirements.
Juno Cho, president and chief operating officer of LG Corp, commented: ‘This is a strategic development for LG and we fully support GM’s goal to lead the industry in the electrification of the automobile.’For more of the latest industry news, click here.