egm Car Tech
Barack Obama will be making his fourth trip to the state of Michigan today since becoming the President of the United States of America. Obama will be in town to attend the ground breaking of a $303 million battery plant owned by LG Chem. The move shows Obama is serious about his goal of 1 million plug-in hybrids and EVs on the roads by 2015.
In March, LG Chem confirmed that it would build a factory to make battery cells for electric-vehicles including the upcoming 2011 Chevrolet Volt extended range electric-vehicle. Production of the plant kicked of last month.
The 650,000 sq-ft plant will be able to produce up to 200,000 EV batteries and will create 300 jobs by 2013. It is already creating hundreds for the construction of the plant.
Half of the funding for the LG Chem plant came from form a $151.4 million federal grant. LG Chem does not have to pay that money back.