LG Energy Solution took in more than $189 million from Michigan taxpayers, but now will not deliver on its promise to build new electric vehicle batteries at the new Holland plant.
Instead, it’ll be building cells for the utility monopolies’ mandatory forced transition to wind and solar. The monopoly companies get a guaranteed profit margin from state ratepayers, so they actually earn more money the more expensive energy becomes.
When LG Energy Solution announced plans to build electric vehicle batteries at a new plant in Holland, Gov. Gretchen Whitmer said it would “enable us to continue to lead in building and deploying the next generation of transportation solutions.”
Last week, the company announced the $1.4 billion expansion is now complete, with the help of hundreds of millions in taxpayer subsidies, but the plant will not be producing EV batteries, as promised, MLive reports.
Instead, Phil Lienert, LG Energy’s external affairs manager, told the news site it will produce lithium iron phosphate cells for energy storage systems needed for the government forced transition to wind and solar power.
