Chinese battery maker Gotion sets up a $2 billion EV battery in Illinois - PingW...

Chinese battery maker Gotion sets up a $2 billion EV battery in Illinois

Chinese battery maker Gotion sets up a $2 billion EV battery in Illinois

September 12, 2023 5:41 am

Chinese battery maker Gotion High-Tech on September 8 announced that it will set up a $2 billion electric vehicle (EV) lithium battery manufacturing plant in Manteno, Illinois.

The plant, which is expected to create 2,600 jobs, will produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells and energy storage systems.

"Gotion's battery technology will help to boost e-mobility in North America and the economic and trade exchanges between China and the United States," said Gotion chairman Li Zhen.

In a press release on Friday, Governor J B Pritzker called it's the most significant new manufacturing investment in Illinois in decades.

Gotion's investment will be supported by the Reinventing Energy and Vehicles incentive package, the new Invest in Illinois fund, and "other incentives" totaling $536 million, the press release said.

The "Invest in Illinois" fund, which was established in early 2023, is designed to make Illinois more attractive as it competes for large-scale projects in highly competitive sectors such as clean energy, according to the statement. Gotion also received approval for a 30-year property tax abatement for local governments.

The plant is expected to begin production in 2024.

The US is encouraging the onshoring of EV battery manufacturing as it looks to gain an edge in the electrified transportation transition and reduce its dependence on China, which has long controlled the supply and manufacture of lithium-ion batteries.

According to a TechCrunch report in August, there are currently about 30 battery plants in the US that are being planned, built, or operated. By comparison, there are only two battery plants operating in the country in 2019, with another two under construction.

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