HOLLAND, MI (WHTC-AM/FM, Oct. 5, 2023) – One of two lithium-ion battery manufacturing operations in Holland has landed a big deal.
Officials of Toyota Motor North America and LG Energy Solution announced on Wednesday a supply agreement for the Korean-based company to supply such batteries for the Japanese automaker in its US assembly operations. Those batteries will be made at the LG Chem complex off of East 48th Street, a facility built in 2010 and currently undergoing an expansion.
City Manager Keith Van Beek said at last night’s Holland City Council meeting this $3B deal will lead to a third phase expansion.
The deal represents LG Energy Solution’s largest single supply agreement secured outside of joint venture agreements, and the Korean-based company now supplies its batteries to all top five global automakers.
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