GM and LG team up to make Chevrolet Bolt EV

LG Chem and General Motors executives declined to comment on the new vehicle despite speculation that Chevrolet’s new all-electric 2016 Bolt will be the platform.

“Chevrolet needs to be disruptive in order to maintain our leadership position in electrification”, said GM Executive Vice President Mark Reuss. In 2011, the two companies expanded their collaboration through a signed agreement to “jointly design and engineer future electric vehicles”. The subsidiaries of LG, most notably LG Electronics and LG Chem will be working closely with the Detroit automaker to work on the development of the prototype systems in concept of the Bolt EV.

LG’s initial engagement with GM began in 2007, when LG Electronics provided the vehicle communications module for GM’s OnStar telematics system.

Following joint planning and research, GM and LG brought the Chevrolet Bolt EV to reality. And apart from EV-centric parts, the Korean company will also supply GM with instrument cluster and infotainment components.

In its effort to build the next-generation Chevrolet Bolt electric vehicle, which is claimed to do over 200 miles on a single electric charge, General Motors has joined hands with LG Chem.

There now exists a collaboration between Chevrolet and LG Corporation to work on creating a production version of the Chevrolet Bolt.

GM plans to start mass production of the new Chevy Bolt EV at its Oregon factory late next year.

The Bolt EV’s range and expected price tag of about $30,000 puts it in direct competition with Tesla’s upcoming Model 3, which will be the company’s first mass market auto.

LG Chem produces lithium-ion battery cells for the Volt plug-in hybrid at its plant in Holland.

“Our vision is to be a component supplier for electric vehicle manufacturers”, Chang said.

LG, multinational electronics company headquartered in Seoul, is a huge company with multiple businesses and it is not shocking to see that the company would want to enter into this risky voyage. Besides electronics and devices that are consumer-ready, LG also deals in batteries and display.

In the meantime, Reuss claimed earlier this month the Bolt EV will tout a $145 cost for every kilowatt hour of electric vehicle batteries.