LANSING, Mich. (AP) - Electric vehicle battery maker LG Energy Solution, a joint-venture partner with automaker General Motors, plans a $1.7 billion expansion in western Michigan that will add up to 1,200 jobs by 2025.
The project at the company's site in Holland was approved for $56.5 million in state grants and a 20-year tax break worth $132.6 million.
Michigan Economic Development Corp. CEO Quentin Messer Jr., who chairs the Michigan Strategic Fund, said the expansion will quintuple the plant's ability to produce battery components.
"We look forward to the incredible impact this project will have on the region's economy, small businesses and workforce for generations to come," Messer said.
The average wage will be $1,257 a week, or about $65,000 annually, plus benefits.
The Silverado EV will be built on GM's Ultium electric car platform. (GM)