President Obama shakes hands with Peter Ban-Suk Kim, on Thursday at the groundbreaking ceremony in Holland, MI of Compact Power, Inc. a subsidiary of LG Chem Ltd a South Korea Battery Plant Co which is receiving $151.4 Million Dollar Grant from the Dept of Energy to create (maybe) 300 jobs–that works out to $504,667 per job courtesy of the taxpayers.
Compact Power is slated to produce lithium-ion batteries for the electric cars Chevy Volt and the Ford Focus
There is but one major problem, Michigan denied permits to build a new coal fired power plant to charge the new electric cars.