The state governor's office announced on Sept 8 that China's Gotion High-tech Co Ltd will build a $2 billion electric vehicle (EV) lithium battery manufacturing plant in Manteno, Illinois, creating approximately 2,600 new jobs.
Global EV battery manufacturers and automakers have been eyeing the North American market for new manufacturing plants as they seek to diversify supply chains and benefit from Inflation Reduction Act incentives.
"Gotion's battery technology will help to boost North American e-mobility as well as economic and trade exchanges between China and the United States," Gotion chairman Li Zhen said.
Gotion will be eligible for $213 million in tax breaks over the next 30 years, as well as $125 million in capital funding from the Reimagining Energy and Vehicles incentive package in the United States.
Local authorities also approved Gotion's 30-year property tax exemption.
According to the statement, once completed, the Manteno facility will produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells.
The plant is scheduled to start production in 2024.
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