LG Electronics plans to establish a US 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. 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.
Vehicle components represent the fastest-growing business of LG Electronics. LG’s first-half 2017 global revenues for vehicle components were more than $1.5 billion, a 43% increase from the same period last year, due in large part to the successful collaboration with General Motors on the Chevrolet Bolt EV. Honored by GM as a global supplier of the year, LG Electronics received the 2017 GM Innovation Award.