LG Energy Solution is investing $1.7 billion and creating 1,200 jobs at its current location in Holland, Michigan. LGES’ expansion will quintuple the plant’s capacity to help produce battery components into the future as Michigan’s electric vehicle industry grows.
“LG Energy Solution’s $1.7 billion investment in Michigan will create 1,200 good jobs in West Michigan and enable us to continue to lead in building and deploying next generation transportation solutions,” said Governor Gretchen Whitmer. “Thanks to LGES’ continued investment in our state – which spans more than a decade – Michigan’s leadership role in battery manufacturing will only get stronger as the automotive industry moves toward an electric future. The impact of this win will be felt around the entire state for decades to come.”
LG Energy Solution manufactures large lithium-ion polymer battery cells and packs for electric vehicles. The company has had a presence in Holland since 2010 when it built its first EV battery plant in the U.S. and now has 1,495 employees in Michigan. Today, the company is underscoring its commitment to Michigan as it boosts the state’s leadership in the electric vehicle and high-tech manufacturing industries for years to come.
The Michigan Strategic Fund today approved a package of incentives to support the company’s new battery manufacturing facilities. To learn more, read the full press release by visiting here.
“LG Energy Solution is at the forefront of green business, promoting sustainability, electrification and innovation. We have already become a contributor to the State of Michigan’s ‘championship economy.’ Michigan was a natural choice to our commitment of building an impactful global business because of its rich pool of talent, being close to the geographic epicenter of the automotive industry and its strong support,” said President of LG Energy Solution Michigan Bonchul Koo. “I am optimistic about realizing LG Energy Solution’s aim to achieve carbon neutral by 2050 and about creating ripple effects of environment conscious business in Michigan and beyond. I look forward to what the future holds.”
The LGES expansion announcement comes just two months after GM announced its historic $7 billion investment in the state, which includes up to $2.5 billion to build Ultium Cell LLC’s third U.S. battery cell plant in the city of Lansing and Delta Township, a joint venture between GM and LG. The two companies have a longstanding relationship, and GM acted as a key partner in bringing LG to Michigan in 2010. The Holland investment will fall under the LGES entity, which recently completed a record-breaking IPO in South Korea.
“LG Energy Solution’s investment underscores the strength of the workforce within our state’s automotive sector and secures a critical economic win as we build a championship economy across the state. We appreciate LGES’s continued vote of confidence in Michigan and look forward to working with the company as it continues to grow and add jobs for our residents,” said MEDC CEO and Michigan Strategic Fund President and Chair Quentin Messer Jr. “Today’s announcement demonstrates our strong partnerships at the local and regional level and our commitment that Michigan’s economic recovery is felt by all 10 million of our friends and neighbors.”
“We are extremely grateful for LG’s long-term partnership and employment in our community. As an international leader in advanced energy storage, LG choosing our region for this transformational expansion is extraordinary,” said Jennifer Owens, Lakeshore Advantage President. “Automotive electrification is the future and to have a global leader in electric vehicle production residing in our community cements West Michigan as a national competitor for future-focused economic prosperity.”
Learn more about why Michigan is the home for Pure Opportunity in automotive, mobility and EV growth at https://www.michiganbusiness.org/pure-opportunity/.