LG Chem to Build Battery Plant in Michigan
LG Chem to Build Battery Plant in Michigan
  • Korea IT Times
  • 승인 2009.10.14 17:21
  • 댓글 0
이 기사를 공유합니다

LG Chem Ltd., South Korea's biggest chemicals maker, will spend $303 million over three years to build a battery plant in Holland, Mich. The plant is to be completed by the end of June 2013 after construction begins next July, the Seoul-based company said Tuesday in a regulatory filing.

Michigan may attract at least seven makers of battery cells for electric cars in the next several years, Greg Main, head of the Michigan Economic Development Corp., told Bloomberg News this month. Four manufacturers are already part of a US$1.36-billion federal program to help set up new plants in the state, and companies from Texas and Germany and a German-South Korean alliance may also locate in Michigan, the state agency said.

The four battery projects were approved for tax credits in April by the Michigan Economic Growth Authority and expect to create more than 6,600 jobs at facilities in Livonia, Holland, Midland and other undetermined locations.

LG Chem's subsidiary Compact Power has provided batteries to General Motors. LG Chem said full-year sales may reach a record this year after reporting 83% growth in third-quarter net income. Operating profit, or sales minus costs, at the electronics division, which makes batteries, more than doubled.

"Michigan will be the place where the electric vehicle, and the batteries that power that vehicle, will be researched, developed, manufactured and assembled," Gov. Jennifer Granholm told a news conference in April. The state is adding $400 million to regular MEGA credits to supersize incentives for the companies.

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • URL: www.koreaittimes.com / m.koreaittimes.com. Editorial Div. 02-578-0434 / 010-2442-9446. Email: info@koreaittimes.com.
  • Publisher: Monica Younsoo Chung. CEO: Lee Kap-soo. Editor: Jung Yeon-jin. Juvenile Protection Manager: Yeon Choul-woong.
  • IT Times Canada: Willow St. Vancouver BC, Canada / 070-7008-0005.
  • Copyright(C) Korea IT Times, Allrights reserved.