LG knows how to develop EV
LG International Corp. and the Iranian government signed a memorandum of understanding on a future electric car development program.
Full details and a binding agreement will reportedly be finalized by the end of this year as the two sides hash out the finer details.
According to reports, by 2018 the project assumes to build 20 electric cars (different models...not 20 in total), as well as installing a charging infrastructure in Tehran.
In the longer term, Iran would like see local electric car production reach 60,000 by 2023.
"Under the deal, LG International will work with local companies to develop electric vehicles and build charging stations. They also agreed to produce about 60,000 units of EVs by 2023."
LG International Corp. as part of LG Group can provide a lot of expertise in both the EVs themselves and their lithium-ion batteries. The South Korean company is currently engaged in countless EV projects around the world, as well as in the GM's Chevrolet Bolt EV, supplying many key parts.
"LG International will oversee the project jointly with the Iranian government. Other affiliates, such as LG Electronics, LG Chem and LG Innotek, will lead efforts to develop batteries, electric motors and key auto parts, the company said."
Well Iran is not known for its forward thinking for transportation solutions, it is positive sign that another oil exporting country does see the future with zero emission vehicles planning a roll.