SEOUL, Oct. 21 (UPI) -- General Motors and LG Electronics announced a partnership Wednesday to build the new Chevrolet Bolt electric vehicle that will travel more than 200 miles on a single charge.
The South Korean company said its partnership with GM will combine "expertise in infotainment, battery systems and component development" with GM's electric motor knowledge and ability to integrate computer systems and vehicle bodies.
The vehicle was initially shown at the North American International Auto Show in January, with Chevrolet confirming in February that the vehicle would go into production at GM's plant in Michigan late next year. Some of the components supplied by LG for the project include the vehicle's instrument cluster, the communications mechanism between the vehicle and a charging station, battery cells, power inverter and more.
Mark Reuss, executive vice president of global product development for GM, said in a press release from LG that Chevrolet should pick and choose the best components of the company's work with the Volt and Spark electric vehicles and combine with them with LG's experience.
LG specifically assigned its LG Chem, LG Innotek and LG Display divisions to work on the project, investing more than $250 million into a facility in Korea to manufacture components for the Bolt.
GM first worked with LG in 2007, when it developed the vehicle communications module for GM's OnStar telematics system. LG Chem also worked with GM on the development of batteries for the Chevrolet Volt, a hybrid electric vehicle that was released in 2010.
Meanwhile, LG shares jumped 14 percent Wednesday on news of the GM deal, closing at 53,600 won.