GM Korea Co., the South Korean unit of General Motors, Thursday outlined its investment and development plan, which includes launching an all-electric vehicle in the domestic market in 2013.
"We are planning to invest more than 1 trillion won ($908 million) each year from next year to develop new vehicles, power trains and environmentally friendly equipment," the company said in a statement.
GM Korea, which is one of the Detroit-based car maker's development centers for mini and small vehicles, accounts for about a quarter of vehicles produced globally under the Chevrolet marque.
The company said it will produce the all-electric Chevrolet Spark mini car at its Changwon plant next year, and the vehicle will be sold in the domestic market as well as exported to the U.S.
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