Global EV battery developer Gotion High-Tech has announced a major investment in the state of Illinois to the tune of $2 billion to erect a new gigafactory in Manteno – about 50 miles south of Chicago. With logistic and financial support from the state, Gotion’s new plant becomes the largest investment in EV battery technology in Illinois history.
Gotion High-Tech Co., Ltd. is a battery R&D and energy solutions provider that is headquartered in China, but has footprints on continents all over the world, including Fremont, CA – home to Tesla’s original gigafactory. Most recently, Gotion has been expanding to Vietnam via a joint venture with VinES, the energy division of VinFast.
The company specializes in several different types of battery chemistries, particularly in support of the automotive segment. This includes new lithium-iron-manganese-phosphate (LMFP) batteries (seen below) promising 1,000 km (621 miles) of range on a single charge, as well as lithium-iron-phosphate (LFP) batteries that we’ve reported on in the past, as Tesla was at one point rumored to be helping bring a factory to the US.
While we have no confirmation that Tesla is involved in any way, Gotion High-Tech has found a home for its US EV battery manufacturing plant – Illinois. Beginning next year, the company intends to begin producing batteries for automakers based all around North America.
Gotion’s plant the largest EV battery investment in Illinois
Gotion High-Tech and Illinois Governor JB Pritzker joined local state leaders in the city Manteno – the future home of the EV battery manufacturing facility announced today. Gotion shared that the roughly 150-acre site will focus on the production of lithium-ion cells, battery packs, and energy storage system integration.
When complete, the state-of-the-art facility is expected to produce 10 gigawatt-hours (GWh) of lithium-ion packs and 40 GWh of li-ion cells – all in support of the local US EV supply chain. Gotion cited plans to manufacture batteries for its current partners as well as “additional EV manufacturers across North America.” During today’s press event in Manteno, Governor Pritzker spoke:
Today, we take another leap forward, announcing the largest electric vehicle battery production investment in Illinois to date. It’s my pleasure to welcome a world-leading battery manufacturer – Gotion – to Illinois. This announcement is a testament to Illinois status as a leading destination for companies and investors who want the most talented workers, the best transportation systems, and a collaborative economic growth mindset from their partners in government at all levels. With 2,600 new jobs, a $2 billion gigafactory, and the most significant new manufacturing investment in Illinois in decades – it’s the most recent proof that we are in a new paradigm. Illinois is on the rise, and we’re open for business.
Gotion’s decision to call The Land of Lincoln its new home was hardened by Pritzker and the state’s REV (Reimagining Energy and Vehicles) Illinois incentive package, plus a new fun called “Invest in Illinois.” Pritzker has been publicly courting prospective OEMs in the EV sector to come to Illinois and Gotion is now the first to take advantage of Invest in Illinois – which will provide the EV battery developer with $125 million in capital.
The state shared that Gotion’s entire incentive package is valued at $536 million and includes eligibility to receive $213 million in tax benefits over the next 30 years through REV. To qualify, Gotion must invest a minimum of $1.9 million and create at least 2,600 full-time jobs that pay at least 120% of the average wage for similar positions in Manteno’s Kankakee County.
The REV agreement has been fully executed, meaning the central Illinois city can expect to see thousands of job openings over the course of the next year. Lastly, Gotion will also receive 30 years of property tax abatement which has already been approved by local authorities. Gotion chairman Li Zhen spoke to the company’s new EV battery plant’s potential in a state like Illinois:
Energy and environmental protection are our common challenges. To address them, solar power, wind, and energy storage systems are becoming the backbone of a new energy system and accelerate the revolution in the global energy landscape. All that we see here [in Illinois] are of enormous value to us: an enabling business environment, a supportive state government for the new energy industry and their highly efficient work, as well as the prospects of the State of Illinois in the coming years. When we come to Illinois, we are not building a new factory but are planning to reuse an existing one and bring it back to life again as our way of cherishing and conserving resources. We believe that Gotion’s battery technology will help to boost e-mobility in North America and the economic and trade exchanges between China and the US.
Gotion says the new facility is expected to begin EV battery production in 2024. Illinois will also fund a manufacturing training academy nearby to prepare regional employees for jobs in the next-generation battery segment.
Author: Scooter Doll
Source: Electrek
