General Motors will release four new vehicles in South Korea this year including two electric vehicles as the global automaker looks to expand its presence in the local market, GM's Korean office said Friday.
"We plan to strengthen GM’s presence in the fiercely competitive domestic market and meet the needs of those seeking the unique American product experience and new lifestyle that only GM can provide by expanding our comprehensive range of products," said Hector Villarreal, president at GM Korea, in a press conference held at the House of GM, the automaker's integrated brand space, in Seoul.
According to GM, the Cadillac Lyriq all-electric sports utility vehicle will lead GM Korea's launch schedule for early 2024, alongside other vehicles manufactured in the US -- the Chevrolet Equinox EV, Cadillac XT4, and Chevrolet Colorado. The Lyriq is a high-end electric SUV with a starting price that nears $60,000 in the US market, boasting about 500 kilometers in range and a 33-inch curved LED display powered by Google.
"Despite current infrastructure challenges slowing the EV market, at least for now, we still see great potential in the luxury EV sector, particularly with our Cadillac Lyriq poised to attract those seeking a premium electric experience," said Gustavo Colossi, vice president of sales, service and marketing at GM Korea.
The launch of the Lyriq, which was initially slated for the fourth quarter of last year, encountered setbacks due to battery supply chain complications, compounded by widespread strikes by the United Auto Workers union.
“We’re working closely with headquarters to resolve the production challenges and labor disputes. As we draw closer to the official launch in the first half of 2024, I look forward to sharing more details,” said Villarreal.
As infrastructure gaps in EV charging networks globally and domestically pose another barrier to the growth and adoption of EVs, Colossi said the company is looking at a more comprehensive solution that spans multiple suppliers and stakeholders at a global level.
Beyond the new vehicle launches, GM Korea is doubling down on efforts to strengthen its reputation in the Korean market as a reliable and customer-centric brand. The company announced that its flagship service center in Yangpyeong-dong, Seoul will open in July to enhance its customer service network and offerings.
The 23,556 square meter, four underground and eight above-ground floor facility will offer a comprehensive suite of services from maintenance to sales. It will offer drive-through and valet test drive services, vehicle pick-up and delivery, hybrid and EV charging stations.
Additionally, GM Korea will launch the OnStar telematics service by the first half of 2024, beginning with the popular Chevrolet Trax crossover. The mobile-connected platform, much coveted by avid GM customers, provides features such as remote diagnostics, vehicle status notifications, over-the-air updates and more.
The company also announced the expansion of its after-sales network through the ACDelco service brand. Launched in March 2023, ACDelco has rapidly grown to over 160 service points nationwide. It will now offer repair parts beyond just imported vehicles to include popular Korean domestic brand models.
GM aims to maximize the annual production capacity of its Korean facilities, which currently stands at 500,000 vehicles.
The company saw a 76.6 percent surge in vehicle demand in 2023, selling over 468,000 units driven by strong sales of the Trax and Trailblazer crossover SUVs.
