As the lithium-ion battery market continues to expand, it becomes one of the few industries reporting job growth during the economic downturn. recently, Compact Power, a subsidiary of LG Chem, announced plans to hire additional workers as demand has outstripped current supply and is expected to continue to rise.
Compact Power, a company that began four years ago with five employees together during the staff Christmas party probably never thought that today they would employ more than 120 people and continue to grow. From a small gathering then, to an annual Christmas party at the Detroit Yacht Club, Compact Power has come a long way.
Their success and growth does not appear to be stopping anytime soon. Compact Power and partner LG Chem have announced plans to break ground on a new battery manufacturing facility in Michigan later this year. The facility should be production ready by 2013.
The companies will invest an additional $300 million into this manufacturing facility and are expected to hire at least 300 to 400 more employees. The new facility will have the capability to produce up to 20 million battery cells per year.
2013 is a short while away and Compact Power must hire additional employees now to work at their temporary manufacturing facility. They will hire up to 30 more employees in production and engineering jobs to work at this facility producing battery cells for a yet to be named automaker.
From 5 strong 4 years ago to 120 today and 150 soon, Compact Power has shown that a small start-up can be successful in the massive lithium-ion battery market.
Source: Detroit Free Press Print Edition Sun March 7th