LG Chem said Sunday that it has been named “corporation of the year” at the 19th annual Supplier of the Year celebration, held at the GM World headquarters in Detroit, Michigan.

Company officials said the win was attributable to its lithium-ion battery supplied for GM’s electric vehicle, Volt.

To receive the most prestigious award among 82 global suppliers to GM who were also in presence at the awards, Vice Chairman and CEO of LG Chem, Peter Bahnsuk Kim, flew in to attend the ceremony.

It is believed that LG Chem’s lithium-ion battery has contributed heavily to the successful launch and selling of GM’s first electric vehicle, Volt.

According to GM, the company was also hailed for its innovative technology in developing the advanced battery and the cooperative partnership with one of the world’s largest automakers.

“Our technology and quality in developing lithium-ion battery, of course, its supply capacity has proved once again to be the most advanced in the world,” Kim said.

“In addition, LG Chem is determined to build up its partnership with GM to lead the electric vehicle industry,” he added.

By Kim Ji-hyun (jemmie@heraldcorp.com)