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LG Chem to pay back gov't. grant funds
HOLLAND, Mich. (NEWSCHANNEL 3) - A battery company headquartered in Michigan is repaying the government for misused funds.
According to a Department of Energy audit released Wednesday morning, Holland-based LG Chem is repaying more than $800,000 in grant funding.
The company received $150 million in federal funds back in 2010 to build a facility that promised 440 new jobs producing lithium ion batteries for the Chevy Volt.
Construction is complete, but batteries still are not being produced.
The audit can be found here.
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