SEOUL, Apr. 15 (Korea Bizwire) — General Motors’ South Korean operations, GM Korea, reported operating profits exceeding 1 trillion won in 2023, marking the highest level since the company’s establishment in 2002 as GM Daewoo. This remarkable performance was driven by the success of strategically allocated models from the global headquarters, the Chevrolet Trailblazer and Trax [...]
SEOUL, May 4 (Korea Bizwire) — South Korea’s vice industry chief asked General Motors Co. (GM) on Thursday to make an investment in production facilities for electric vehicles (EVs) in the country, as the Seoul government has extended support for nurturing the advanced industry sector, his office said. First Vice Industry Minister Jang Young-jin made [...]
SEOUL, March 22 (Korea Bizwire) — General Motors Co. (GM) on Wednesday began to sell the Trax Crossover in South Korea following its launch in the U.S. market late last year. GM plans to fully operate its Korean plant in Changwon, about 300 kilometers south of Seoul, until the second quarter to meet rising global [...]
SEOUL, Feb. 26 (Korea Bizwire) — General Motors Co. said Sunday it has started the production of the Trax Crossover at its South Korean plant ahead of its local launch in the first quarter. GM plans to ramp up the strategic model’s production to meet the rising demand for the new vehicle in the United [...]
SEOUL, April 20 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Wednesday it will adjust vehicle production and relocate workforce in its plants amid an extended global chip shortage. GM Korea and its union agreed to switch to a one-shift system, or regular daytime shift, from the two-shift [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korean chemical maker POSCO Chemical Co. said Thursday it has agreed with U.S. auto giant General Motors Co. to set up a joint venture for a key component for electric vehicle (EV) batteries and build a plant in North America. The cathode materials JV will begin production of [...]
SEOUL, Aug. 21 (Korea Bizwire) — American automaker General Motors said it will expand the recall of Chevy Bolt electric vehicles equipped with South Korean supplier LG’s batteries over fire risks, which is expected to additionally cost about US$1 billion. The latest recall covers 73,000 Bolt EVs and EUVs from model years 2019 through 2022 [...]
SEOUL, April 17 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Saturday its joint venture with American automaker General Motors Corp. will build a $2.3 billion electric vehicle (EV) battery factory in Tennessee. Ultium Cells, the joint venture between LG and GM, will build a second U.S. factory with an annual [...]
SEOUL, April 16 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Friday it will spend 1.06 trillion won (US$950 million) to build a battery factory in the United States with American automaker General Motors Corp. In a regulatory filing, LG Energy, wholly owned by LG Chem Ltd., said that it and [...]
SEOUL, April 15 (Korea Bizwire) — A joint venture between South Korean battery maker LG Energy Solution Ltd. and U.S. automaker General Motors Corp. will build its second battery factory in Tennessee to step up production, industry sources said Thursday. Ultium Cells, a joint venture between LG and GM, has picked a site in Tennessee [...]