1.7bn USD investment in Michigan

According to the press release, the Michigan Economic Development Corporation announced that LG Energy Solution is investing $1.7bn in Holland. What’s more, it will create 1,200 jobs at its current location in Holland. This expansion will quintuple the plant’s capacity to produce battery components in the future as Michigan’s electric vehicle industry grows. The governor of Michigan, Gretchen Whitmer, stated in the following.

“LG Energy Solution’s $1.7 billion investment in Michigan will create 1,200 good jobs in West Michigan. Also, it will enable us to continue to lead in building and deploying next generation transportation solution. Thanks to LG Energy Solution’s continued investment in our state, which spans more than a decade, Michigan’s leadership role stands. The impact of this win will be felt around the entire state for decades to come.”

What’s more, General Motors (GM) announced its historic $7 billion investment in Michigan. It includes up to $2.5bn to build Ultium Cell LLC’s third U.S. battery cell plant in the state. Ultium Cell LLC is a joint venture between GM and LG. In fact, the two companies have a longstanding relationship. Thus, GM acted as a key partner in bringing LG to Michigan in 2010.

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