Consumer electronics leader LG Group, the second largest South Korean conglomerate, is expanding its collaborating with with automotive giant General Motors (GM), the largest US automaker. The new partnership will see the two companies team up to design and build hybrid and fully electric vehicles.
The partnership will have engineers from both companies working on component, structural and architectural designs for cars. The two companies are already partners in the electric vehicle market. LG Chem, a unit of LG, currently supplies lithium-ion battery cells for G.M.’s Chevrolet Volt and Opel Ampera.
GM already uses hardware produced by LG for its OnStar system. LG also worked with GM on a demonstration fleet of electric Chevy Cruze in Korea last year fitted by the company’s battery pack and motor inverter.
G.M. hopes the LG deal will benefit both companies in an increasingly competitive efficient vehicle sector.
“Many solutions for tomorrow’s transportation needs may be available more quickly by building on our partnership strategy,” said G.M. Vice Chairman Steve Girsky. “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.”
© 2011, Richard Matthews. All rights reserved.
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