CHICAGO, Aug. 22 (Xinhua) -- LG Electronics Inc. plans to open a factory in Hazel Park, the suburbs of Detroit, to produce EV components.
The 250,000-square-foot facility is expected to start production in 2018, local media reported.
This facility will bring the state of Michigan at least 292 new jobs, including factory workers in Hazel Park and engineers at the expanded LG R&D Center in Troy, Michigan.
Besides an investment of 25 million dollars from LG, the Michigan Business Development Program will grant 2.9 million dollars to the project in the next four years. LG will also receive hiring and training assistance from the U.S. state.
"When leading global companies like LG invest in Michigan and create hundreds of good, high-paying jobs here, it speaks volumes about the strong business and mobility climate in the state today," state of Michigan Governor Rick Snyder said in a statement released Tuesday. "LG's great technological advancements and our outstanding workforce will help pave the way for the vehicles of the future right here in Michigan."
"Vehicle components represent the fastest-growing business of global technology leader LG Electronics," local media quoted LG officials as saying. LG's 2017 first-half global revenues for vehicle components reached more than 1.5 billion dollars, a 43 percent increase from the same period last year, thanks in large part to the successful collaboration with General Motors on the popular Chevrolet Bolt EV.
