SEOUL, Oct. 13 (Korea Bizwire) — LG Electronics Inc. and LG Energy Solution said Wednesday that they will repay General Motors Co. about 1.4 trillion won (US$1.2 billion) in costs for the recalls of Bolt electric vehicles due to battery defects. The two flagship units of South Korea’s LG Group have reached an agreement with [...]
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 30 (Korea Bizwire) — U.S. automaker General Motors Co. said Friday it will recall Chevrolet Bolt electric vehicles equipped with batteries produced in LG Energy Solution Ltd.’s South Korean factory to update its battery software and ease fire risks. The recall covers about 69,000 Bolt EVs for the 2017-2019 model years, installed with [...]
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 5 (Korea Bizwire) — POSCO Chemical Co., an affiliate of South Korea’s steel giant POSCO Group, said Monday it will provide a key material for Ultium Cells’ rechargeable batteries for electric vehicles (EVs). POSCO Chemical said it will supply anodes, one part of lithium-ion batteries used in EVs, to Ultium Cells, a battery [...]
SEOUL, Nov. 14 (Korea Bizwire) — General Motors Co. said Saturday it has decided to recall electric vehicles equipped with batteries made by South Korean producer LG Chem Ltd. due to safety concerns. The recall covers the Bolt EV produced from 2017 to 2019, installed with LG Chem’s batteries made from Ochang, 120 kilometers south [...]
SEOUL, July 28 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday it has taken an initial step to acquire a General Motors Co. plant in Russia as part of its expansion strategy. Last week, Hyundai Motor submitted documents to the Russian government in the first step toward the acquisition of the GM plant [...]
SEOUL, July 2 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will invest 800 billion won (US$667 million) as planned in the coming years, despite the new coronavirus outbreak. GM Korea President and CEO Kaher Kazem reaffirmed the company’s commitment during his visit to the company’s [...]
SEOUL, June 21 (Korea Bizwire) — General Motors Co. is committed to expanding its position in South Korea by introducing more electric vehicles amid growing appetite for zero-emission cars thanks to improving charging infrastructure and state subsidies, the company has said. In a virtual media briefing held Wednesday, Jesse Ortega, architectural chief engineer at GM’s [...]
BOSTON, June 8 (Korea Bizwire) – Anaqua, the leading provider of innovation and intellectual property management solutions, today announced that General Motors (GM) has selected Anaqua to help manage its extensive global patent and design portfolio. Through the agreement, GM will leverage Anaqua’s fully integrated software and services to streamline their IP management lifecycle globally. As the company’s [...]