Michigan Gov. Gretchen Whitmer announced that LT Precision Michigan, LLC would create 70 new jobs and invest $43.2 million to initiate new manufacturing operations and establish its North American headquarters in Holland, further bringing supply chains home to Michigan.
LT Precision Michigan, LLC, a subsidiary of the Korea-based LT Precision Co., LTD, supplies battery cooling plates to electric vehicle manufacturers in the U.S. The company produces components and machinery for both electric and conventional vehicle markets. It also designs, develops and manufactures machinery parts, molds, welding and assembly machinery and fixtures for Tier 1 and Original Equipment Manufacturer (OEM) automotive companies.
A critical aspect of LT Precision's strategy is its commitment to increase investments in the production of cylindrical and prismatic 2nd Battery cases within the U.S.
LT Precision's North American headquarters in Holland will serve as a central hub for its manufacturing and corporate offices.
The company's inaugural U.S. project is projected to include a total investment of $43.2 million and will create 70 new jobs in the production of cooling plates for EVs. This venture is supported by a $700,000 performance-based grant from the Michigan Business Development Program.
The city of Holland has offered a property tax abatement in support of the project.
