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GM inks Chevrolet Volt battery contract

10/24/2008, 1:15 PM

By Drew Johnson

General Motors has reportedly passed a major milestone in its Chevrolet Volt electric car program, signing LG Chem as the EV’s battery supplier. GM has yet to confirm the deal, but is expect to make announcement about the contract sometime in November.

The Volt’s lithium-ion batteries have been seen as the vehicle’s linchpin, with the deal likely indicating the Volt’s biggest obstacle has been overcome.

According to Reuters, GM has inked the Volt’s battery contract with Compact Power Inc., LG Chem’s Detroit-based unit. A partnership between Continental AG and A123 Systems was also in the running for the Volt battery contract, but ultimately lost out to Compact Power.

Although Continental AG and A123 Systems did not land the contract, sources close to the situation have indicated that both companies will remain part of the Volt project. GM is keeping both sides in the mix with the hope that competition will drive down costs and improve the overall system.

All eyes will now be squarely focuses on Compact Power as it will be one of the first companies to supplies lithium-ion batteries to the automotive industry for high-volume use. GM has targeted a 40 mile all-electric range for the Volt, which is slated to hit the market in late 2010.

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10/24, 1:34 PM

posted by:

Lariat Luxury Locomotive Liner No.3

First, if LG Chem is probably the worst company to have signed-on with. Second, good to see old Lutz hamming for his beloved photo opt that is necessary for his life support. Lutz is smiling while under his breath uttering the words, “Can you say Service Bulletin?”

10/24, 1:50 PM

posted by:

bradleygt

LLL#3: just curious as to why they are the worst? what insider info do you know about the company that GM doesnt that would make them the ‘worst’? Or if they had signed on with Cont AG or A123 would you have said the same thing? just curious if you actually know something about them or if your just GM bashing as usual on here :)

btw, if you read the whole thing, it does say the other two companies are still involved…

10/24, 2:12 PM

posted by:

johnnycanuck

bradleygt, this is the internet- there’s no room for unbiased opinion here.

10/24, 2:25 PM

posted by:

zeeck

I thought LG was a good company? ah well, and in the new PopSci, there is a huge article on this whole thing, they said it was narrowed down to two companies.

Also, spell check the last paragraph please LLN, it hurts my brain…

10/24, 2:38 PM

posted by:

howsmydriving

Volt: the car that will save GM.

10/24, 2:59 PM

posted by:

Z06ified

LG = Lucky Goldstar, a Korean company that used to operate an electronics subsidiary under the name of Goldstar Electronics. Those old enough to remember the 1980’s will recall the Goldstar name that used to sell T.V.’s, microwaves, etc. in the U.S. LG is the same company – they just renamed themselves in the states.

They also happen to own Zenith Electronics.

10/24, 3:19 PM

posted by:

Lariat Luxury Locomotive Liner No.3

@bradleygt, I do not dislike GM—I dislike its executive management that has failed miserably, but continues to reward themselves for doing so; I guess that qualifies as GM executive management bashing—very few seem to be holding them accountable (a malady of decades of indoctrinated propaganda that has paid-off handsomely for execs). Z06ified has part of it…that’s all I am going to say. On another bright note, it is so rewarding to know that the US taxpayer bailout money will be going to Korea. Way to go Lutz/Wagoner! Thanks for your vote of confidence in US abilities.

10/24, 4:02 PM

posted by:

Payton Byrd

@Z06ified

LG has been improving its quality over the last 20 years just as has Hyundai. Perhaps you need to read some reviews of their modern products.

10/24, 4:34 PM

posted by:

yarddog82abn

>>> Lutz; ” Damm I hope your getting my good side…”
>> Poor guy in the back; ” Damm Lutz did you fart?”
>>> Lutz; “Ya, it’s alternative energy”

10/24, 4:34 PM

posted by:

Borat

I have inside information from Kazakhstan Ministry of Economic Development: LG agreed on payments from GM in form of GM stock (valuation as of January 1st 2006). Nobody else would take such gamble. GM approached Moscow Red Lead for batteries, but they only accept $$$ for lead, polonium, oil and prostitutes.

10/24, 5:23 PM

posted by:

Patriot

Great, so rather than sending $700 billion/year overseas for oil, we’ll be sending it for our batteries. What’s the difference?

10/24, 7:08 PM

posted by:

Borat

^^^ Lutz & Wagoner could not get a dime from oil money, now they will.

10/24, 11:23 PM

posted by:

441Zuke

yeah made in america…. wait from korea AHHHH WTF.

10/25, 1:26 AM

posted by:

beatusmongous

LLN, seriously, $10.00 per post. Just send them to me and I’ll proofread them and correct them. I’ll make some money, and you’ll save face.

Z06ified, Goldstar wasn’t all THAT long ago, either. If anyone remembers the 3DO created by Trip Hawkins, Goldstar was one of the electronics companies that produced it, along with Panasonic and Sanyo. I still have my old Panasonic 3DO. That was early ’90s.

The good thing about batteries is that they are reusable. Even though they are expensive, the money you spend on batteries goes much further than the same money on gas.

However, I’d rather GM use American made batteries.

10/25, 11:22 PM

posted by:

Get Real

Lutz wants to be another Harley Earl….but he is more like a Jimmy Carter.

10/25, 11:28 PM

posted by:

carstuff

There is no major manufacturing left in this country. We sold ourselves out as you can tell by the comments here against our own car manufacturers. Yes we still have Boeing but every other company here is long gone. The only competition is some Europe company.

10/26, 3:47 PM

posted by:

nitinsharma1000

How come nobody is talking about how the car looks like an acura specially in that picture?

10/26, 6:29 PM

posted by:

Get Real

Because if cut the front and rear off ANY car on the road they ALL look the same.

Design is nothing to argue about anymore. Sad state of affairs. $150,000 will get you design.

 
 
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