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GM will release 10 electric vehicles by South Korea by 2025; there is no plan for local manufacturing by Reuters

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© Reuters. FILE PHOTO: General Motors assembly workers connect a battery pack under a 2018 partially assembled Chevrolet Bolt EV vehicle to Lake Orion, Michigan, USA on March 19, 2018 at Orion Assembly. REUTERS / Rebecca Cook.

Author: Heekyong Yang

SEOUL (Reuters) – General Motors Co. (NYSE 🙂 will launch 10 electric vehicles (EVs) for the South Korean market by 2025, but has no plans to manufacture electric vehicles in the country yet, said GM’s head of international operations Steven Kiefer. on Friday.

The U.S. automaker, which warned last year that sustainable industrial action was hampering further investment in South Korea, is building EVs in the United States and China. He also plans to build vehicles in Mexico and Canada.

Kiefer’s visit to Detroit in June after a Korean union delegation arrived could lead to speculation in the local media that he could announce new plans to produce EV.

“We have yet to announce plans to produce electric vehicles in the region, so stay tuned,” Kiefer told the media.

GM’s South Korean unit builds about 600,000 vehicles a year, and sends many to the United States including the popular Chevrolet Trailblazer SUV, which employs about 12,000 people. Last year it had an operating loss of 309 billion won ($ 262 million).

Kiefer also said GM’s partnership with South Korean battery maker LG Energy Solution is “very bright”.

“It’s clear that more (battery) capacity will be needed, so stay tuned for some additional predictions,” he said.

GM and LG are building two battery cell manufacturing plants in the United States with a combined production capacity of about 70 gigawatt hours per year, which can power about a million electric vehicles.

In October, GM said LG units had agreed to return $ 2 billion in estimated costs and expenses associated with the recovery of Bolt electric vehicles.

($ 1 = $ 1,177,8000)

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