That's probably mostly true for some parts like climate controls, LCD panels, CCS data channel controller, etc.
Other components are somewhat specific to the Bolt like the exact battery pack configuration and structural pack support designed together with GM. Other components are being built by LG but were designed by GM like the electric motor and gear train.
Don't discount the work that goes into integrating all of the components into a car, testing them separately and together, and designing and building the car body and overall interior. The reality is that carmakers typically outsource many of the ordinary components in a car.
The main difference with GM, LG, and the Bolt is not that they are outsourcing these components but rather that they are mostly being outsourced to a single conglomerate rather than to a variety of different 3rd party suppliers.
LG was hot to get into the automotive parts business and was already making consumer goods with many of the requisite technologies (air conditioning, LCD panels, electric motors, etc). GM was hot to buy high quality energy-dense battery cells at a good price.
They did a business deal.