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GM, LG to Jointly Develop Electric Vehicles

August 30, 2011

DETROIT – General Motors (GM) and LG Group, which served as the battery cell supplier for the car company’s Chevrolet Volt and Opel Ampera extended-range EVs, will be working together again. This time, the two companies will jointly design and engineer future electric vehicles (EV).

The partnership agreement was signed Aug. 24 and will help GM expand the number and types of electric vehicles it makes and sells by using LG’s expertise in batteries and other systems, according to GM. For LG, the agreement will widen its portfoli6o as an automotive solutions provider.

“Many solutions for tomorrow’s transportation needs may be available more quickly by building on our partnership strategy,” said Steve Girsky, GM vice chairman. “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.”

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, according to GM.

The relationship between the two companies expanded last year with work on a demonstration fleet of Chevrolet Cruze electric vehicles. The vehicles, which were used as official vehicles of the G20 summit in Seoul, are currently in the market-testing phases.

“This is a strategic development for LG and we fully support GM’s goal to lead the industry in the electrification of the automobile,” said Juno Cho, president and chief operating officer of LG Corp.

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