On August 23, according to TechCrunch, LG announced that it will establish a new plant in Hazel Park, a suburb of Detroit, Michigan, to produce electric vehicle components. LG said that the factory covers an area of ​​23,226 square meters and can create nearly 300 new jobs. In the next 4 years, LG will invest 25 million U.S. dollars, and Michigan will provide 2.9 million U.S. dollars.
For this electronics manufacturer, the electric vehicle parts business is very important. In the first half of 2017, the global auto parts business brought LG revenue of US$1.5 billion, an increase of 43% compared to last year. LG attributed a large part of this growth to its partnership with General Motors to supply components for Chevrolet's low-cost long-range electric vehicles.
In addition to lithium-ion batteries for Bolt battery packs, LG also offers many other components, including electric motors, battery heaters, voltage distribution controller modules, infotainment systems, power inverters, and more. All of this may be of interest to other automakers. They want to build their own electric vehicles, and building a factory in Michigan is very strategic for filling this demand. (small)
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