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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.
Tune in to Newschannel 3 Live at 6 for more on the story.
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.
Tune in to Newschannel 3 Live at 6 for more on the story.
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