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GM to launch 10 EVs in S.Korea by 2025; no local manufacturing plans yet



SEOUL – General Motors will launch 10 electric vehicles in South Korea by 2025, however has no plans but to fabricate EVs within the nation, Steven Kiefer, the pinnacle of GM’s worldwide operations stated on Friday.

The No.1 U.S. automaker, which warned final 12 months that persistent industrial motion was stopping additional funding in South Korea, builds EVs in america and China. It additionally has plans to construct them in Mexico and Canada.

Kiefer’s go to after a Korean labor union delegation went to Detroit in June had led to hypothesis in native media that he might announce new EV manufacturing plans.

“We’re not asserting any plans but to provide electrical automobiles within the nation, so keep tuned for that,” Kiefer informed a media briefing.

GM’s South Korea unit builds about 600,000 automobiles a 12 months, delivery many to america together with the favored Chevrolet Trailblazer SUV, and employs about 12,000 folks. It reported an working lack of 309 billion gained ($262 million) final 12 months.

When requested in regards to the affect of the chip shortage at GM’s Korea vegetation, GM Korea Chief Govt Kaher Kazem stated manufacturing quantity within the nation this 12 months was down about 25% versus final 12 months, however the chip scarcity gave the impression to be easing.

Kiefer additionally stated GM’s partnership with South Korean battery maker LG Vitality Resolution was “very brilliant”.

“Clearly extra (battery) capability goes to be required, so keep tuned for some extra bulletins,” he stated.

GM and LG Vitality Resolution are constructing two battery cell manufacturing vegetation with a mixed annual manufacturing capability of about 70 gigawatt hours in america, which might energy about 1 million EVs.

In October, GM stated LG models had agreed to reimburse it for $2 billion in estimated prices and bills related to a recall of Bolt EVs.

($1 = 1,177.8000 gained)

(Reporting by Heekyong Yang Enhancing by Richard Pullin and Mark Potter)



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