It’s a good day for the state of Michigan. South Korean electronics company LG announced plans for a new 225,000 square-foot facility in Hazel Park near the city of Detroit.
The new facility will put LG in close proximity to General Motors and where the 2017 Chevrolet Bolt EV is built at the Orion assembly plant. LG currently supplies battery cells and many other components for the 2017 Bolt EV.
In total, LG will invest around $25 million for the entire project and create 292 jobs in the process—137 factory jobs and 155 engineering and research and development positions will need filling. The South Korean company also plans to expand its U.S. R&D presence significantly.
The rise of electric cars has fueled battery production to new heights. As more automakers roll out electrified cars, the need for batteries is expected to grow significantly. LG seems to be betting the Bolt EV will be a runaway success in the near future.