LG will start building EV components in Michigan from 2018August 23, 2017 - 14:32 AMT PanARMENIAN.Net - LG Electronics Inc. on Tuesday, August 22 announced plans to establish a U.S. factory for building advanced electric vehicle (EV) components in Michigan. The 250,000-square-foot facility will produce EV components starting in 2018. The project will mean at least 292 new Michigan jobs, including factory workers in Hazel Park and engineers at the expanded LG R&D Center in Troy, Mich. Representing an LG investment of about $25 million, the project is supported by a $2.9 million capital grant under the Michigan Business Development Program over the next four years, as announced on Tuesday by the Michigan Economic Development Corporation. LG also will receive hiring and training assistance from the state, including MI Works support in cooperation with local community colleges, and from the cities of Hazel Park and Troy. Vehicle components represent the fastest-growing business of LG Electronics. The company's first-half 2017 global revenues for vehicle components were more than $1.5 billion, 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. Honored by GM as a global supplier of the year, LG Electronics received the coveted 2017 GM Innovation Award. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |