Michigan is poised to become a major player in the electric vehicle (EV) industry with a $3 billion investment in lithium-ion battery module production. This funding comes as part of a collaboration between LG Energy Solution and Toyota Motor North America.
LG Energy Solution will expand its facility in Holland, Michigan, to establish new production lines dedicated to manufacturing battery cells and modules. This expansion project is slated to be completed by 2025.
This investment is not only a win for the EV industry but also for the state of Michigan. Governor Gretchen Whitmer praised the LG-Toyota agreement, emphasizing its role in "creating good-paying jobs" and solidifying Michigan's position as a global hub for the automotive industry's electric revolution.
The lithium-ion battery modules produced in Michigan will initially power Toyota's expanding lineup of battery electric vehicles (BEV). One of the first beneficiaries of Toyota’s “multi-pathway product strategy” will be a Toyota plant in Kentucky, which is scheduled to begin production of new electric vehicles in 2025.
"At Toyota, our goal is to reduce carbon emissions as much as possible, as fast as possible," said Tetsuo "Ted" Ogawa, President and CEO of Toyota Motor North America.
This partnership secures a reliable supply of lithium-ion batteries to support Toyota's plans for electric vehicles in North America and the company’s sustainability goals.
Toyota currently employs more than 63,000 people in North America who contributed to the design, engineering, and assembly of 45 million cars at 13 manufacturing plants. With BEVs becoming an instrumental part in Toyota’s multi-pathway product strategy, new employees well versed in technology will be key to helping Toyota accomplish its goals. With the auto industry making up 20% of Michigan’s workforce, EV technology is becoming a significant driver of economic development.
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