LG Electronics Inc., South Korea's No. 2 tech firm, said Wednesday that it will be selling key vehicle components to General Motors Co. for its new electric vehicle due to be mass-produced starting in late 2016.

The Detroit-based automotive company picked the Korean electronic appliance maker as its strategic partner for the development of its new Chevrolet Bolt Electric Vehicle, LG said in a statement.

Under the deal, LG will be the provider of 11 key components to GM, including the driving motor, inverter, in-vehicle charger, electric compressor and battery packs.

The two companies have been working together from the initial stage of development on the Chevrolet Bolt, which boasts a high mileage of 320 kilometers on a single charge. The new EV was first showcased at the Detroit motor show early this year.

GM plans to start mass production of the new Chevy Bolt EV at its Oregon factory late next year.

LG and GM have forged a partnership since 2007 in the development and exchange of technologies for vehicle applications.

LG has been the sole provider of GM's 4G-based long-term evolution  network telematics system, which refers to in-vehicle communications tools such as hands-free calling and the remote diagnostics system. (Yonhap)