Displaying items tagged: Gotion Inc

LANSING — Michigan will give companies $410 million to open two electric vehicle battery plants following approval of transfers by a legislative panel on Wednesday.

After spending months behind the scenes on complex negotiations and crafting incentive packages to lure major advanced manufacturers, Michigan economic development organizations now face another challenge to landing projects: public sentiment.

Gotion Inc.’s top North American executive said Wednesday that the Chinese company is targeting July to start construction on a planned $2.4 billion battery parts plant in the Big Rapids area.

Gotion Inc.’s multibillion-dollar electric vehicle battery factory proposal near Big Rapids has swelled by 1 million square feet and 200-300 additional jobs despite lingering uncertainty that the project will even happen.

Gotion Inc. hopes to move forward with a $2.4 billion EV battery parts plant in the Big Rapids area, but it has a backup plan that could involve leaving the state if the deal falls apart, said Chuck Thelen, the company’s vice president for North American operations.

Ferris State University is working to roll out an accelerated electric vehicle battery manufacturing training program to build a pipeline of workers for a planned $2.4 billion battery plant in the Big Rapids area.

Chinese battery parts manufacturer Gotion Inc. is reassessing real estate plans for a $2.4 billion factory in the Big Rapids area after scrutiny from a township board.

West Michigan’s manufacturing sector experienced a mix of highs and lows in 2022, as several major ventures plan to bring in billions of dollars in new investments while other companies contended with inflation, supply chain disruptions and labor availability.

West Michigan’s industrial sector remains a point of strength in the local commercial real estate market, with many employers hoping to expand in the region despite the lack of available space, which has prompted a range of new construction projects.

A state board has approved hundreds of millions of dollars in tax exemptions and performance-based grants to help lure two large battery manufacturing projects that promise more than 4,000 jobs and nearly $4 billion in investment.

State lawmakers have steered another $846.1 million into a state fund to support major economic development projects in Michigan.

BIG RAPIDS — A trio of Mecosta County municipalities have approved a 30-year tax incentive to help lure a multi-billion dollar electric vehicle battery manufacturing facility that promises more than 2,000 jobs.

BIG RAPIDS — The Big Rapids area could experience a multi-billion dollar advanced battery manufacturing investment in the coming years, according to a recent media report confirming months of speculation about the project.