LG Opening Component Plant In Michigan Supplying Chevy Bolt

Producing components and batteries for the Chevy Bolt has been good enough for supplier LG Electronics to set up shop in the U.S.

The Korean electronics company announced yesterday that it will place a 250,000-square foot facility in the Detroit suburb of Hazel Park, Mich. It will be ready to start producing electric vehicle components beginning in 2018.

That will bring at least 292 new jobs to Michigan. Factory workers will report to the new plant in Hazel Park while engineers will go to the expanded LG R&D Center in Troy, Mich.

The company will be putting down about $25 million into the expansion. It’s being supported by a $2.9 million capital grant through the Michigan Business Development Program that’s to be paid off over the next four years.

The state is quite pleased with the economic growth, and support it brings to Michigan as a hub for advanced vehicle technology development.

“LG’s great technological advancements and our outstanding workforce will help pave the way for the vehicles of the future right here in Michigan,” said Governor Rick Snyder.

LG has seen global revenue for vehicle components grow 43 percent over the same period as last year, producing $1.5 billion in revenue. The company says it has much to do with the deal with General Motors, which helped it win the 2017 GM Innovation Award.

The Korean company plays in integral role in producing the Chevy Bolt. Core components include motors, inverters, battery cells, and infotainment systems. These have come out of an LG plant west of Seoul that opened in 2013.

SEE ALSO:  2017 Chevrolet Bolt Supplier LG Electronics Starts Its Assembly Line This Month

Along with EV components, LG will begin constructing what it calls the world’s most advanced production plant for washing machines over in Clarksville, Tenn. That should bring 600 new jobs to the state by 2019 through the $250 million factory.

There will also be construction of a $300 million North American headquarters facility in Englewood Cliffs, N.J. It will up the headcount from 500 today to more than 1,000 by 2019, the company said.

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