During a speech at the Management Briefing Seminars in Traverse City, MI on Wednesday, Hyundai America CEO John Krafcik became the first executive to commit to a 50-mile-per-gallon fleet average and plans to achieve that goal by 2025. That goes well beyond the 35.5 mpg already mandated under corporate average fuel economy rules for 2016.
LG Chem made it official today. The South Korean manufacturer is moving forward with plans to start production of lithium ion cells in Michigan. LG Chem and its U.S. subsidiary, Compact Power Inc. (CPI), will spend $303 million to build the cell plant in Holland on the west side of Michigan. By 2013, the facility figures to employ over 400 people. Groundbreaking will start this summer with the factory fully operational by 2012. At full production, the plant will have enough capacity to produce c