LG Electronics Readies Michigan
August 25, 2017
Electronics plans to establish a U.S. factory for advanced electric
vehicle (EV) components in Michigan. The 250,000-square-foot facility,
in the Detroit suburb of Hazel Park, Mich., will produce EV components
starting in 2018. The project will mean at least 292 new Michigan jobs,
including factory workers in Hazel Park and engineers at the expanded LG
R&D Center in Troy, Mich.
Representing an LG investment of about $25 million, the project is
supported by a $2.9 million capital grant under the Michigan Business
Development Program over the next four years, as announced by the
Michigan Economic Development Corporation. LG also will receive hiring
and training assistance from the state, including MI Works support in
cooperation with local community colleges, and from the cities of Hazel
Park and Troy.
"When leading global companies like LG invest in Michigan and create
hundreds of good, high-paying jobs here, it speaks volumes about the
strong business and mobility climate in the state today," Governor Rick
Snyder said. "LG's great technological advancements and our outstanding
workforce will help pave the way for the vehicles of the future right
here in Michigan."
Ken Chang, LG Electronics USA senior vice president and head of the LG
Vehicle Components North American Business Center, said, "LG's
initiative to develop and produce world-class EV components in the
United States represents a key pillar of our strategy to be the best
technology partner to U.S. automakers."
components represent the fastest-growing business of global technology
leader LG Electronics. LG's first-half 2017 global revenues for vehicle
components were more than $1.5 billion, a 43 percent increase from the
same period last year, thanks in large part to the successful
collaboration with General Motors on the popular Chevrolet Bolt EV.
Honored by GM as a global supplier of the year, LG Electronics received
the coveted 2017 GM Innovation Award.
LG's jobs and investment commitment in Michigan coincides with two other
major LG projects in the United States. The company will soon begin
construction on the world's most advanced production plant for washing
machines in Clarksville, Tenn. This $250-million factory will create 600
new U.S jobs by 2019. In addition, construction is under way on the new
LG North American Headquarters in Englewood Cliffs, N.J., a $300-million
project that is expected to increase LG's local employment there from
500 today to more than 1,000 by 2019.