(Image Credit: Gotion High-Tech)
Right in element14's back yard!
Gotion High-tech, a Chinese EV battery maker, is constructing a $2 billion manufacturing plant in Manteno, Illinois, that expects to generate 2,600 full-time jobs. And it puts the state on the map to become a focal point for the nation's EV industry. The plant production starts next year and will manufacture lithium-ion battery packs and cells for electric cars, trucks, and buses. A nearby manufacturing training academy funded by Illinois will help regional employees take on jobs in the next-gen battery industry.
Ultimately, this announcement is a milestone for J.G. Pritzker, the Democratic governor, and his goals to introduce additional EV business in Illinois. It also represents a huge win in this industry after the governor acquired Lion Electric's electric bus manufacturing plant for Joliet in 2021.
Once it's constructed and operational, the plant is expected to manufacture 10 GWh lithium-ion battery packs and 40 GWh lithium-ion cells, all of which support the local US supply chain. Gotion also plans on producing batteries for its partners and additional EV manufacturers across North America.
Over the past few years, the Illinois General Assembly passed legislation that allowed Pritzker to invest $536 million worth of incentives. The Invest in Illinois Fund pledged $125 million as part of those incentives. Additionally, Gotion High-tech will become eligible to receive $213 million in tax benefits over 30 years and capital funding worth $125 million from the Reimagining Energy and Vehicles incentive package. But to meet eligibility requirements, the company must fund at least $1.9 million and create 2,600 full-time jobs paying at least 120% of the average wage earned with similar roles in the Kankakee County of Manteno.
Thousands of job openings related to this plant in central Illinois could be introduced throughout the upcoming year. Local authorities also approved Gotion to receive 30 years of property tax abatement.
"Today, we take another leap forward, announcing the largest electric vehicle battery production investment in Illinois to date. It's my pleasure to welcome a world-leading battery manufacturer — Gotion — to Illinois," said Governor JB Pritzker. "This announcement is a testament to Illinois' status as a leading destination for companies and investors who want the most talented workers, the best transportation systems, and a collaborative economic growth mindset from their partners in government at all levels. With 2,600 new jobs, a $2 billion gigafactory, and the most significant new manufacturing investment in Illinois in decades — it's the most recent proof that we are in a new paradigm. Illinois is on the rise, and we're open for business."
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