General Motors ($GM@US) announced on Friday that it plans to launch 10 new electric vehicles in South Korea by 2025. While the company hasn’t yet announced plans to manufacture the vehicles in Korea, the largest automaker in the U.S. previously said that it was concerned about its ability to invest in South Korea. Currently, the company builds EVs in the U.S. and China and also plans to build them in Mexico and Canada. Steven Kiefer, GM’s head of international operations, said, “We are not announcing any plans yet to produce electric vehicles in the country, so stay tuned for that.” At present, GM’s unit in South Korea builds around 600,000 vehicles a year, shipping several back to the U.S. With that unit employing around 12,000 people, it carried an operating loss of $262 million last year. GM Korea Chief Executive Kaher Kazem said that the chip shortage caused a 25% reduction in volume, but also noted that the chip shortage seems to be letting up. GM has also partnered with LG Energy Solution, a South Korean battery maker, with Kiefer noting that “Clearly more (battery) capacity is going to be required, so stay tuned for some additional announcements.” GM stock rose nearly 4 and a half percent in early trading as the news broke.