GM to invest US$4.27 billion in South Korea

General Motors announced that it will invest US$4.27 billion in its South Korean operations in the next three years. According to the vice chairman of GM’s corporate strategy and business development, Stephen J. Girsky, GM plans to invest in the design, engineering and manufacturing facilities in Korea. GM is partnering with LG Chem in Korea with the Chevrolet Volt plug-in hybrid vehicle. LG Chem supplies the lithium ion polymer batteries for the hybrid vehicle. The two companies will test demand for both the Chevrolet Volt and the all-electric Chevrolet Cruze vehicles in South Korea. (April 6, 2011)