General Motors announced on Friday it will launch 10 electric vehicles in South Korea by 2025, according to Steven Kiefer, the head of GM’s international operations, reports Automotive News.
Despite the launch of new EVs in South Korea, GM has no plans to build cars in the Asian nation yet, said Kiefer at a media briefing. GM currently builds its EVs in the United States and China, with plans to expand production to Mexico and Canada.
“We are not announcing any plans yet to produce electric vehicles in the country, so stay tuned for that,” said Kiefer.
Back in June, a Korean labor union visited Detroit, resulting in local media speculating an EV production announcement was forthcoming.
The GM head also stated their relationship with battery maker LG Energy Solution was “very bright”. Both companies are building two battery cell plants in the U.S., with enough capacity for 1 million EVs.
GM currently builds nearly 600,000 cars per year in South Korea, with many exported back to the United States, employing roughly 12,000 people. The South Korean arm of GM lost $262 million last year.
The global chip shortage affected GM’s production in South Korea, sending volume down by nearly 25% compared to last year. GM Korea Chief Executive Kaher Kazem said the shortage appears to be easing.
However, the chip shortage has resulted in GM removing heated seats as an option in its most popular vehicles.
A recent Chevy Bolt EV recall resulted in LG agreeing to pay for the recall at $2 billion in costs.
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