GM and LG to jointly develop EVs

General Motors and LG Group will jointly design and engineer future Electric Vehicles (EVs), expanding a relationship built on LG’s work as the battery cell supplier for the Chevrolet Volt and Opel Ampera extended-range EVs. Teams of LG and GM engineers will work on key components, as well as vehicle structures and architectures. Vehicles resulting from the partnership will be sold in many countries. Timing of the launch of the first vehicles resulting from the partnership will be announced closer to market
June 22, 2012 Read time: 1 min
General Motors Chairman and CEO Dan Akerson and Juno Cho, President and COO of LG, signing the agreement to cooperate on future electric vehicles
948 General Motors and 954 LG Group will jointly design and engineer future Electric Vehicles (EVs), expanding a relationship built on LG’s work as the battery cell supplier for the 1960 Chevrolet Volt and 4233 Opel Ampera extended-range EVs. Teams of LG and GM engineers will work on key components, as well as vehicle structures and architectures. Vehicles resulting from the partnership will be sold in many countries. Timing of the launch of the first vehicles resulting from the partnership will be announced closer to market readiness. The agreement does not involve an exchange of equity between the companies.

The definitive agreement 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.

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