LG Chem to Build $303 Million Advanced Battery Plant in Holland, Michigan

lg chem battery image

Photo: GM
Will Make Lithium-Ion Batteries for the Chevy Volt
Advanced lithium-ion batteries are at the heart of the coming wave of electric cars and plug-in hybrids, and so there's nothing more important for their success than a good supply of high-quality batteries. So car makers are scrambling to partner up with battery makers (Toyota with Sanyo and Panasonic, for example) and new battery plant projects are announced left and right. The most recent big one is from LG Chem, General Motors's partner for the Chevy Volt.
lg chem logo image

Photo: LG Chem

From Edmunds: "South Korean battery make LG Chem says it will spend more than $300 million over the next three years to build a manufacturing plant in Michigan for advanced technology batteries."

The plant won't be ready for the launch of the Volt, so the first batteries used will come from South-Korea. But as the number of Volts goes up over the years, the new supply from the US should help meet that demand.

Thanks to generous tax incentives, at least three other battery makers (from Germany, South Korea and the U.S.) have expressed interest in locating plants in Michigan. It seems like the U.S. is moving from being a country where almost no advanced automotive li-ion battery cells are made to one where a substantial amount will be make in the coming years (at least if the projects announced come to term).

Via MLive, Edmunds
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