LT Precision Michigan is a subsidiary of a Korean company that makes battery cooling plates for electric vehicles manufactured in the United States.
The company is investing $43.2 million dollars for a new manufacturing operation and a North American headquarters in Holland near other businesses in the industry.
“We’ve got LG Energy Solutions here in Holland that continues to grow and push that market and certainly the business-to-business connection between companies is attracting those that supply to the EV market.”
Mark Meyers is the city’s Director of Community and Neighborhood Services. He says the company is renovating an existing industrial site at Airport Park Court, and the venture will bring 70 new jobs to the area.
“It’ll be a broad range of jobs from production right up to and through engineering and management.”
The company wants to expand operations in the U-S, aiming to become a top battery components manufacturer for the auto industry.
“Overall it’s a reflection on the quality of life we have here both in Holland and in West Michigan, as well as the high quality workforce that we’re known for.”
The project is supported tax abatements from the city and a $700,000 grant from the Michigan Business Development Program.
