Confirmed: LG Chem to Build $303 Million Lithium-Ion Battery Plant in Michigan
Image: LG Chem
The Supply Chain for Electric Cars is Growing
About 6 months ago we wrote that LG Chem was thinking about building an advanced lithium-ion battery plant in Holland, Michigan, to supply battery packs to GM for the Volt PHEV. Now it's confirmed, everything's official and the groundbreaking is scheduled for this summer, with a 2012 target for the beginning of operations. LG Chem says that the plant will create over 400 jobs by 2013, and many people will be hired and trained in advance.
the 650,000 square-foot facility will be financed in part from a $151.4 million grant the company received from the U.S. Department of Energy (DOE) as part of the Recovery Act Award for Electric Drive Vehicle Battery and Component Manufacturing Initiative. LG Chem will also make a $151.5 million investment in the facility.
At its peak output, the plant will produce enough cells for 50,000 to 200,000 vehicle battery packs per year.
Of course, if the Chevy Volt is successful, the LG Chem plant will be a key supplier. But if it isn't, it wouldn't be surprising if they tried to partner with other automakers (that will depend on what kind of exclusivity deal they signed with GM).
Via LG Chem, AP
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