LG Chem To Build Chevy Volt Batteries In Michigan
HOLLAND, Mich. (AP) — Korean battery-maker LG Chem Ltd. and its U.S. subsidiary Troy-based Compact Inc. will make battery cells for electric vehicles at a plant in western Michigan.
The companies announced in a statement Friday that at its peak the $303 million factory in Holland will produce enough battery cells for 50,000 to 200,000 vehicle battery packs, including the Chevrolet Volt.
Production at the 650,000-square-foot plant is expected to be fully operational in 2012 and create more than 400 jobs by 2013.
Groundbreaking for the facility, located on a 120-acre site in the city about 155 miles west of Detroit, is scheduled for this summer. It will be financed in part by a $151.4 million grant from the U.S. Department of Energy. LG Chem also will invest $151.5 million in the plant.