LG International and Iran to co-operate in development of EVs and parts

Project entails plans to produce around 60,000 EVs by 2023

LG International and the government of Iran have signed a tentative deal to co-operate in developing electric vehicles (EVs) and establishing the necessary vehicle charging infrastructure, reports Yonhap News Agency. The deal is expected to be finalised this year. Under the deal, LG International – with its group entities LG Electronics, LG Chem, and LG Innotek – will work with local Iranian companies to develop EVs and build charging stations in the country. It will oversee the project jointly with the local government, although its role will be limited to developing batteries, electric motors, and key auto parts. According to preliminary details, the project entails plans to produce around 60,000 EVs by 2023.