China’s Gotion High-Tech to set up $2 bn EV battery plant in Illinois, US

 

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Chinese battery producer Gotion High-tech Co Ltd will set up a $2 billion electric vehicle lithium battery manufacturing plant in Manteno, Illinois that would create about 2,600 new jobs, the state government said.

“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.

Gotion will be eligible to receive tax benefits totaling $213 million over 30 years and also get $125 million in capital funding from the U.S. state’s Reimagining Energy and Vehicles incentive package.

Gotion’s property tax abatement for 30 years was also approved by local authorities.