General Motors has just reaffirmed its commitment to its South Korean operations by announcing an important growth strategy in the Asian country, which will strengthen its role in the company’s global plans. The automaker has confirmed that it will bolster its South Korean manufacturing and engineering capabilities with the launch of a next-generation compact crossover and future electric vehicles in 2023.
The company’s South Korea affiliate announced its new local operations strategy on Friday, November 12th, during a special press conference called GM Future Growth held at the GM Korea Design Center in Bupyeong. The plan seeks to achieve profitability in the Asian country with an onslaught of high-margin products, both domestically manufactured and imported, including 10 electric vehicles by 2025.
“Korea, a market of early adopters and very technology-focused people, presents many opportunities,” said GM Senior Vice President and GM International President, Steve Kiefer, in a statement. “We will introduce 10 new electric vehicles to this market by 2025, bringing EVs in every price point from entry-level vehicles to performance cars, rugged trucks, capable SUVs, crossovers, and luxury products that our customers know and love,” he added.
GM Korea’s growth strategy is based on three fundamental pillars: further leveraging of local manufacturing capacity by adding a future Chevrolet crossover in early 2023, expanding the imported vehicle portfolio with SUVs and full-size pickups for the first time in the country, as well as increasing the capabilities of the technical center to support the development of GM’s upcoming electric vehicles.
“I am very proud to say that we play a key role for GM Global Engineering, supporting more than 20 global vehicle programs across various GM brands,” said GM Technical Center Korea President, Roberto Rempel. “Now, our role In GM’s EV strategy is expanding. We have started supporting GM global engineering on next-gen EV programs, based on the flexible Ultium platform and Ultifi technology. This is phenomenal for our future and a great sign of the trust from GM in us in Korea,” he finished.
Notably, the Technical Center Korea is GM’s second-largest engineering center worldwide and the largest outside of the United States. In addition to creating the Chevy Trailblazer and Buick Encore GX crossovers, GM’s South Korean arm will increase its footprint in the company’s global business by building the future Chevrolet compact crossover and doubling the number of engineers dedicated to global electric vehicle programs by 2023.