The four battery projects for electric vehicles were approved for tax credits in April by the Michigan Economic Growth Authority and expect to create more than 6,600 jobs at facilities in Livonia, Holland, Midland and other undetermined locations.
LG Chem’s subsidiary Compact Power has provided batteries to General Motors. LG Chem said full-year sales may reach a record this year after reporting 83% growth in third-quarter net income. Operating profit, or sales minus costs, at the electronics division, which makes batteries, more than doubled.
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