Troy-based LG Chem/Compact Power plans to build a new 650,000ft² plant near Holland in western Michigan.
Groundbreaking at the new facility, which will cost $300m and create 400 jobs by 2013, is expected later in 2010.
The US Department of Energy will finance $151.4m for the new plant as part of the Recovery Act Award for Electric Drive Vehicle Battery and Component Manufacturing Initiative, while LG Chem will invest $151.5m.
After completion, the plant will produce enough cells for 50,000–200,000 vehicle battery packs, according to theoaklandpress.com.
LG Chem's North American subsidiary Compact Power will operate the plant.
