EV battery makers Gotion, ONE plan new Michigan plants [Financial Post (Toronto, Ontario, Canada)]
DTE Energy Company (DTE)
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Source: Financial Post
battery plants worth a combined $4 billion in Michigan, Governor Gretchen Whitmer announced on Wednesday. Advertisement Gotion's $2.36 billion plant will create 2,350 jobs in Big Rapids, Michigan. The facility is expected to produce up to 150,000 tons of cathode material and 50,000 tons of anode material a year. ONE's $1.6 billion plant will create 2,100 jobs in Van Buren Township, starting in late 2024, the company said. ONE aims to develop a full battery-making complex, from raw material refining through manufacturing and assembly of cells and packs, with production capacity reaching 20 gigawatt-hours by late 2027, enough to supply about 200,000 electric vehicles a year. Michigan will provide about $715 million in financial incentives for the Gotion facility and $237 million for the ONE facility. Gotion, a publicly traded company in China also known as Guoxuan High Tech Company, is partly owned by German automaker Volkswagen AG. German automaker BMW is an investor in ONE.
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