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LG to Open EV Parts Plant in Michigan
LG Electronics Inc. is investing $25 million to open a manufacturing facility plant in Hazel Park, Mich., and expand its research and development center in Troy, Mich.
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LG Electronics Inc. is investing $25 million to open a manufacturing facility plant in Hazel Park, Mich., and expand its research and development center in Troy, Mich.
The 250,000-sq-ft factory will produce unspecified components for electric vehicles starting sometime next year. LG says it considered locations in Ohio, Indiana and China before selecting Hazel Park. The South Korean company expects the new plant and r&d expansion to result in nearly 300 jobs in Michigan.
LG’s investment is supported by a $2.9 million capital grant under the Michigan Business Development Program over the next four years. LG also will receive hiring and training assistance from the state, including support from local community colleges.
LG says sales by its vehicle components business soared 43% through the first half of the year to more than $1.5 billion. The increase is attributed in large part to LG’s collaboration with General Motors Co. on the Chevrolet Bolt EV. LG Group, including LG Chem and LG Electronics, produces the Bolt’s battery, electric motors, powertrain electronics and infotainment system.
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