LG Electronics has announced\u00a0that it will start\u00a0making\u00a0electric vehicle components in the US next year.\u00a0The South Korean tech giant will set up\u00a0a 250,000-square-foot factory in Hazel Park, Michigan, a suburb of Detroit. The company will also expand its U.S. R&D team.<\/p>\n
The new LG project is expected to create at least 292 new jobs, including 137 factory vacancies\u00a0in Hazel Park and 155 engineering and technical vacancies\u00a0at an expanded R&D center in Troy, Michigan. LG itself will invest about $25 million in the project, while\u00a0a mount of $2.9 million grant will also be acquired from the Michigan Business Development Program.<\/p>\n
Like Samsung, its counterpart rival Korean firm, LG believes that\u00a0the automotive sector represents stronger potential for future growth than consumer electronics and appliances. LG was intimately involved in the development of the\u00a0Chevrolet Bolt, designing everything from the battery cells to large chunks of the powertrain and infotainment system. The company was so much involved that insiders nicknamed the car the “LG Bolt.”<\/p>\n
In recent years, The burst of electric cars offers more opportunities for close collaboration among automakers. LG already supplies lithium-ion battery cells to 25 automotive brands. It will supply cells for\u00a0the Faraday Future FF 91 electric SUV\u00a0(assuming it ever enters production) and is now teaming up with Samsung to provide battery cells for\u00a0Audi’s e-tron SUV\u00a0in the near future.<\/p>\n
With the\u00a0sharp increase in demand of automotive batteries, as well as electronic\u00a0control modules to power more-sophisticated on-board infotainment systems and\u00a0potential autonomous-driving tech, means companies like LG would\u00a0seize the golden opportunity and play a more\u00a0important role\u00a0as automotive component suppliers. LG seems to be banking on that.<\/p>\n","protected":false},"excerpt":{"rendered":"
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