GM, LG Partner to Develop Electric Vehicles

GM LG

The Wall Street Journal - August 25, 2011

Gen­er­al Motors Co. and South Korea’s LG Corp. are part­ner­ing to devel­op a new line­up of bat­tery-pow­ered vehi­cles aimed at cut­ting the cost and time required to cre­ate elec­tric cars. LG will cov­er half the cost of cre­at­ing a future port­fo­lio of elec­tric and hybrid vehi­cles and then become GM’s sup­pli­er on any­thing the com­pa­nies joint­ly cre­ate. The new arrange­ment increas­es LG’s role to include every­thing from on-board bat­tery charg­ers to cli­mate-con­trol and pos­si­bly in-vehi­cle enter­tain­ment sys­tems. GM hopes the part­ner­ship will help it move past rivals in the race to devel­op elec­tric and gas-elec­tric hybrid vehi­cles to meet the new U.S. fuel econ­o­my require­ments.