LG Chem CFO Cho Suk-jeh has revealed the company will supply an automaker with a battery that will allow one of their models to travel more than 200 miles (320 km) on a single charge. Suk-jeh declined to say which automaker will use the battery but all indications are pointing to General Motors.
General Motors executives have said that the automaker is working on an EV that will deliver at least 200 miles of range. The automaker, manufacturer of the Chevrolet Volt, has said it hopes to have the longer-range EV in the market in 2016 to compete with the anticipated Tesla Model III, now scheduled for introduction in late 2016 or early 2017.
LG Chem presently supplies lithium-ion batteries to GM, Ford, Hyundai, Kia, Volvo and Renault, among others.
Doug Parks, GM’s vice president for product development, said in an interview last year that General Motors plans to offer an EV with at least 200 miles of range for a price of around $30,000. That's the target all the major automakers are aiming at for their next-generation electric vehicles, he said.
GM invested $7 million in Battery Start-up Envia Systems in 2011. Unfortunatley the promised 'world record' 400 Watt-‐ hours/kilogram (Wh/kg) energy density only lasted a few cycles leaving GM to search for more legitimate battery technology partners.
General Motors and LG Group agreed in 2011 to jointly design and engineer future electric vehicles, expanding a relationship built on LG’s work as the battery cell supplier for the Chevrolet Volt and Opel Ampera extended-range EVs.