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GM: Without LG Chem, we couldn't build Bolt EV [UPDATE]

It's absolutely no surprise that General Motors has a thing for LG Corp. The Detroit automaker and the Korean parts supplier have been working in public on electric vehicles ever since it was announced that LG Chem would supply the battery cells for the Chevy Volt in 2009. LG Chem was even named GM's 2010 Supplier of the Year. But, yesterday, the connection between the two companies was strengthened with the announcement that LG Electronics would be supplying a number of components for the upcoming Chevy Bolt electric vehicle. The Bolt is expected to be able to go about 200 miles and will carry a price tag of about $30,000 (after incentives) when it arrives in 2017 or so. LG's new components can be found almost everywhere in the Bolt. They include the battery pack and the battery heater, a new motor, the power inverter module, the electric climate control system compressor, the on-board charger, high-power distribution module, the accessory power module, and power line communication module. Oh, and then there are LG Electronics' advanced display technologies like the new instrument cluster and a new infotainment cluster. LG Electronics also supplies parts for the 4G LTE OnStar system, just like it does in other new Chevys. If that all sounds like a lot of components to you, you're right. Mark Reuss, GM executive vice president of global product development, purchasing and supply chain, said that without the expanded relationship with LG, GM would not be able to bring the Bolt to market (insert old ironic quote link here). "I think GM was lacking that [electrification knowledge] in a very complete way for many years, I'll just be frank about that," Reuss said. "I also think that on an electrified basis, this requires a long-term commitment and trust that sometimes is violated on a more short-term, regular, traditional basis. I think we have found something completely different with LG and I think that has become a widely talked about and duplicated want from our purchasing and corporate standpoint with our supply base." The "this" that Reuss is talking about here is the OEM-supplier relationship, something has evolved with the LG-GM situation. Previously, the automaker-supplier relationship used to be more like a dictator telling underlings what he needed, Reuss said, and that was a bad idea. "Today's competitive landscape requires a different approach, especially in electrified vehicles," he said.

2016 Chevy Camaro to drop 200 pounds

The sixth-generation Chevrolet Camaro makes its grand debut on May 16 at a big celebration on Detroit's Belle Isle. Until then, Chevy's strategy seems to be showing off the pony car's new components piece by piece. With the exhaust headers and front end already on display, the Bowtie is now giving a glimpse at some of the upcoming model's aluminum components. The Camaro is going on a diet for its latest generation, and Chevy claims that the switch to the Alpha platform and other new components shed over 200 pounds compared to the current model. That will put the pony car at around 3,500 pounds. The lower weight will contributes to better fuel economy, quicker acceleration and more direct handling, according to the automaker. Among the changes are aluminum front and rear suspension assemblies (pictured above) that weigh 21 percent less than the current units. Also, Chevy promises in its announcement "links on some models feature an intricate, structurally optimized design made with a rigid composite material that's even lighter than aluminum." In addition to these improved parts, the Camaro uses the lightweight metal for the beam that supports the instrument panel to save 9.7 pounds more. The only two pieces reportedly carrying over to the latest design are Chevy's bowtie and SS badges, and at least one engine in the range is known to be a version of the 6.2-liter LT1 V8. With over a month until the next Camaro's debut, we might get a glimpse of even more of the car's new parts in the coming weeks. Related Video: 2016 Camaro Does More with Less New model is at least 200 pounds lighter than current car 2015-03-30 DETROIT – For the all-new, 2016 Chevrolet Camaro, the team was challenged to improve the handling, acceleration and fuel economy of the award-winning current model. To meet all three objectives, the team focused on a singular mission: reduce mass. By obsessively searching for opportunities to save ounces, the team pared more than 200 pounds off the Camaro compared with the fifth-generation model. As a result, the Camaro does more with less, according to Al Oppenheiser, Camaro chief engineer: "We kept the cornering confidence and control that make the Gen 5 Camaro 1LE so fun to drive, and added a greater sense of agility," he said. "The new Camaro brakes harder, flicks into corners more quickly, and drives out of the corner faster.

New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values