LG and General Motors Invest Big in Green
South Korean conglomerate LG started making solar cells in January of this year. That step into the ‘green zone’ is being followed by an announcement that they plan to invest $18 billion over the next 10 years in green products. As if that’s not enough of a commitment, they also plan to reduce emissions by 40 percent.
Although LG started out as a humble brand, it has morphed into a well-known tech company that manufactures a wide range of electronic components. Once overshadowed by Samsung, LG now offers substantial competition. It didn’t get to its level of success without a keen appreciation for the direction the market is heading and that direction is definitely green. LG will join other Asian conglomerates in pursuing green technology in markets like solar energy, energy efficient appliances, and air conditioning.
In the United States, General Motors is also taking a bigger step into green products with an $8 million additional investment into battery research. Currently, GM’s battery research facility is 30,000 square feet. The new plans will expand that facility to 63,000 square feet.