Seoul: General Motors said it will launch 10 electric vehicles in South Korea by 2025 as part of its strategy to gradually move from cars with internal combustion engines to zero-emissions cars.
GM Senior Vice President Steve Kiefer outlines the Detroit carmaker’s EV plans for the Korean market during a press conference held at GM Korea Company’s main plant in Bupyeong, west of Seoul.
Said Kiefer, who is also in charge of GM’s international operations, but GM Korea will bring all 10 EVs from the US to South Korea without manufacturing them at the Bupyeong plant.
“GM is at a transition point, we are transforming our company from an automaker to a platform innovator,” he said. Korea, a market for early adopters and very technology-intensive people, presents many opportunities.
The US company plans to bring all-cost EVs from entry-level vehicles to performance cars, rugged trucks, capable SUVs and luxury products, Yonhap news agency reported.
GM Korea plans to stick to the two-track plan, in which it sells locally produced vehicles and imported vehicles to Asia’s fourth-largest economy.
The company has three plants. Two in Bupyeong and one in Changwon, about 400 kilometers south of Seoul, have a combined production capacity of 630,000 units a year.
From January to October, GM Korea sales fell 30 percent to 211,239 vehicles from 300,352 a year earlier, due to the impact of continued chip shortages.
To revive local sales, GM Korea plans to add the Chevrolet flagship SUV Tahoe to the imported vehicle product portfolio. Which is currently made up of Colorado pickup trucks, Traverse and Equinox SUVs, Bolt EVs and Camaro sports cars.
It also plans to add the Sierra full-size truck of the GMC brand to the imported vehicle lineup. The company did not provide a time frame for the release.
In addition, the company will launch the next generation crossover utility vehicle in the domestic market in early 2023 after assembling it at the Bupyeong plant.
As for GM’s battery partnership with South Korea’s leading battery maker, LG Energy Solutions, Kiefer expected more battery production capacity for EVs.
GM and LG have partnered to build two battery cell plants in the US with a combined annual production capacity of about 70 gigawatt-hours, which could power about 1 million EVs.
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