GM to Develop Electric Cars with LG
General Motors will join with South Korean chaebol LG to develop electric vehicles (EVs) from scratch, announced company officials Aug. 25. The project was conceived in response to rising fuel-efficiency requirements around the world.
LG already supplies batteries to GM for its Chevy volt plug-in electrics. The new venture envisions them jointly developing motor systems, regenerative braking systems and other major components for next-generation green vehicles.
In July the U.S. announced that it would significantly boost fuel-efficiency standards by 2025, prompting a scrable for electric-vehicle tieups. Last week Toyota and Ford announced joint plans to develop hybrid vehicles.