More jobs are coming for residents of Michigan. LG Energy Solutions plant to expand its EV battery plant. This expansion will add as many as 1,200 more jobs by 2025. These jobs are located near the company’s site in Holland, which is about 155 miles northwest of Detroit. This is big news for the people in that area as this company gears up to provide more batteries to automakers in the area. LG benefits with $56,5 million in state grants and a 20-year tax break that adds up to $132.6 million for the company.
An Incredible Expansion
LG Energy Solutions provides batteries for GM and Stellantis. The future of the automotive industry includes more electric vehicles and more batteries. The planned expansion of the EV battery plant in Holland will allow the company to increase the production of these batteries by a factor of five times. That’s an amazing increase with the addition of 1,200 jobs in the area. With this increase, more businesses should begin to flock to the Holland area in support of this expanded factory and the new economic boost it provides to the workers of the area. The average salary for these new employees should be nearly $65,000 per year.
LG is in Other Areas of the Country
Part of the GM push to have suppliers working close to their assembly plants includes LG. Currently, LG is building three U.S. battery plants to be near the assembly plants of GM. These battery facilities are in Michigan, Ohio, and Tennessee. No report was confirmed of the rumors that LG is building a fourth factory in Windsor, Ontario to provide batteries for Stellantis. There’s a fourth planned GM-LG facility as well, but we don’t yet know where it will be built. Once these last two are operational, that will give LG five factories in the area.
What is the LG Position in Michigan Right Now?
Before this company, based out of South Korea, begins to hire new employees for the expanded factory, it’s good to know how many people currently work for them. There are nearly 1,500 Michigan employees including 1,300 in Holland. The land for this expansion allows the company to build several near buildings that will total 1.4 million square feet on the vacant land they already own. When it came to selecting the site for the LG EV battery plant, Michigan made the most sense because it is the epicenter of the automotive market in the United States.
The Holland, Michigan Economy Just Got a Huge Boost
Expanding the LG factory makes sense with the new electric vehicles both GM and Stellantis are building. Both companies have several new models on the horizon with plans to expand the lineup of EVs to more than half of the models sold by 2030. The batteries for these new vehicles have to come from somewhere and LG is the partner chosen for this job. With 1,200 new jobs in the area and a massive new plant expansion, the LG factory in Holland will be extremely busy over the next several years.
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