Today, LG Electronics announced plans to establish a new U.S. factory for “advanced electric vehicle (EV) components” in Michigan.
The Korean electronic manufacturer made the announcement after it saw its revenue from vehicle components grow 43% to more than $1.5 billion, which they attribute “in large part to the successful collaboration with General Motors on the popular Chevrolet Bolt EV.”
LG is making most of the components that make the Chevy Bolt EV an electric vehicle, including the battery pack, electric motor, and power electronics.
Despite the relatively low volume, the program has been great for LG’s automotive division so far and now they are bringing more of the production closer to GM.
The new 250,000-square-foot facility announced today will be located in the Detroit suburb of Hazel Park, Michigan.
LG says that the project “will mean at least 292 new Michigan jobs” and it will start producing EV components starting in 2018....