LANSING — LG Electronics USA Inc. plans to spent close to $25 million to expand its operation in Oakland County as it aims to grab a bigger share of the electric vehicle and renewable battery markets.
LG USA, the North American subsidiary of Korean electronics giant LG Electronics Inc., plans to build an assembly plant in Hazel Park and expand its engineering and design center in Troy, according to the Michigan Economic Development Corp. The company will add 292 jobs, on top of the 131 it already employs in Michigan.
LG USA last week won a $2.9 million performance-based grant from the Michigan Strategic Fund for the project.
The company plans to build a 250,000-square-foot assembly plant at 1400 E. 10 Mile Road in Hazel Park, according to the MEDC. The factory will make and package renewable batteries and supply 11 other parts to the auto industry. Michigan was competing against possible sites in Ohio, Indiana and China some of which had extra space and lower operating costs to land the manufacturing operation, the state said.
LG USA also intends to expand its engineering operation in Troy at 1835 Technology Drive and 1346 Rankin Drive, according to the MEDC. The facilities will employ workers in office, assembly and engineering roles, the state said.
Hazel Park and Troy will offer staff time and resources, namely on employee recruitment, rather than a tax break, because LG USA's project primarily requires equipment purchases, the MEDC said.
LG USA has four main business units, including home entertainment, mobile communications, home appliances and vehicle components, according to the state.