GM tightened its ties with Volt battery cell provider LG this week, announcing a deal to jointly develop next-generation electric vehicles. GM, along with the other Detroit-based OEMs, have been seeking closer ties with their suppliers, and as the JoongAng Daily reports, this deal helps LG at a time when the Korean conglomerate has been struggling
Two of LG’s pillars – LG Electronics and LG Display – are floundering. LG missed the boat on smartphones and persistently-low prices of display panels have plagued LG Display.
LG officials are hoping the EV project will give it momentum.
And though it’s no surprise that GM wants to move into the pure-EV market, its gamble on the extended-electric Volt has backed it into something of rhetorical corner.