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BREAKING: LG Chem and Compact Power Inc. to Supply Volt Battery Packs

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Reuters has just reported inside sources have confirmed that GM has chosen LG Chem along with Troy, Michigan-based Compact Power Inc. to supply the lithium-ion battery packs for the first generation Chevy Volt.

The contract will be announced in November and the terms are still being worked out.

GM and Compact Power are apparently working out the details of the commercial agreement and how to split warranty costs for the batteries.

GM hasn’t confirmed these reports but an LG Chem spokesman in Korea stated “we were informed that the results are due in November, but we didn’t get any official answer from GM yet. We hope for and expect a good result.”

As we have heard before in a subtle way from GM vice-chairman Bob Lutz, GM was only using one supplier’s packs in the mules. Concurrently, we had heard from Compact Power’s CEO that his batteries were being used in the mules. Sources have now confirmed this is the case and that the mules packs are performing flawlessly.

A123/Continental could still potentially supply Volt packs in the next generation.

http://gm-volt.com/2008/10/22/breaking-lg-...-battery-packs/

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Good! One less thing to worry about. Now they can just work on fine tuning the electrical system and motors for maximum efficiency. Now that they have their batteries nailed down, what's stopping GM from tooling up for a late 2009/early 2010 release as a 2010 model? Especially considering their current market position, it could only help to get people into showrooms quicker. Also, this powertrain needs to be proliferated across ALL of GM's vehicles. I see no reason why we couldn't see this as an option in every vehicle except the Corvette.

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Korea and US companies. Makes sense with global manufacture, GMDAT, and US locations.

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This is still the prevailing rumor...appears tomorrow the official announcement will be made.

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