Volt to use Korean-based battery packs

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Volt to use Korean-based battery packs

Detroit (MI) – General Motors announced today that they will be opening a new factory in Michigan to assemble power packs for their upcoming Volt electric car. Using batteries supplied by Compact Power Inc, a Michigan-based division of LG Chem Ltd. (a company from Seoul, Korea), the new plant will begin production late this year for November, 2010 Volt sales.

GM CEO Rick Wagoner told reporters at the Detroit Auto Show, “This is a further demonstration of our commitment to the electrification of the automobile.” He said GM is committed to a $1 billion investment in the Volt.

According to Bloomberg, “Toyota, the world’s largest maker of gasoline-electric vehicles, is working on a plug-in version of its Prius hybrid to match the Volt’s projected range on one battery charge.” GM is hoping the Volt competes with Prius.

See Bloomberg.