Michigan leads US battery production with LG Energy Solution’s $3 billion investment in Toyota

  • LG Energy Solution and Toyota join forces in Holland, Michigan, for EV battery production.
  • Michigan’s $1.7 billion LGES investment propels it as a global EV hub, attracting $14 billion in EV investments in 2022.
  • Both companies boost Michigan’s EV talent pool, positioning the state at the forefront of the global EV industry.

LG Energy Solution and Toyota Motor North America take on US battery production with $3 billion investment

LG Energy Solution (LGES) and Toyota Motor North America are set to revolutionize the electric vehicle (EV) industry from Holland, Michigan. LGES will invest a substantial $3 billion to supply lithium-ion battery modules for Toyota’s EVs. The deal signifies a pivotal moment in Michigan’s EV landscape. Michigan, propelled by a $1.7 billion investment in LGES’ Holland facility, is creating 1,200 jobs. This is quintupling production capacity, and positioning itself as a global EV powerhouse. This move aligns with Michigan’s aggressive strategy, drawing $14 billion in EV and battery investments in 2022 alone.

Furthermore, LGES and Toyota’s collaboration extends beyond production. Both companies actively participate in Michigan’s Talent Action Team. That’s a dedicated group fueling the local economy by connecting global businesses with Michigan’s EV and mobility talent. Toyota, celebrating its 50th year in Michigan, boasts 2,020 direct employees and has invested approximately $1.5 billion in the state. This partnership not only signifies a tremendous economic boost for Michigan but also underscores the state’s pivotal role in shaping the future of the global EV industry.

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Quentin Messer, Jr., CEO of MEDC, said:

“Today’s announcement highlights how our investments in EV and battery production will continue to generate prosperity here in our state. We are putting Michigan on the map for global companies as the leader in mobility, electric vehicles and energy storage systems. We appreciate the continued partnership and investment in Michigan by both LG Energy Solution and Toyota as we continue to move the automotive industry towards an electrified future.”

Governor Gretchen Whitmer commented:

“Today’s announcement that LG Energy Solution and Toyota are partnering up to power electric vehicles in America right here in Michigan reaffirms our strategy to Make It in Michigan by building a landscape that encourages global investment while creating opportunities for people and communities across our state. Together, we can continue growing our economy, creating good-paying jobs, and further cement Michigan as the global epicenter of the next revolution of the automotive industry.”

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