Chinese electric vehicle (EV) battery manufacturer Gotion has announced plans to establish a new $2 billion EV lithium battery plant in Illinois. The 150-acre facility, located in Manteno, is expected to create 2,600 new jobs, with production slated to commence next year.
The investment from Gotion will be supported by REV, a new “Invest in Illinois” fund, along with additional incentives totaling $536 million. Notably, Gotion will be the first beneficiary of the Invest in Illinois funding. The company has also been granted a property tax abatement for a period of 30 years.
Illinois Governor JB Pritzker expressed enthusiasm over this significant development, highlighting how it marks a turning point for the state. He commented, “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.”
This announcement signifies another major green energy-related project initiated by Chinese companies in the United States. The establishment of Gotion’s battery plant in Illinois represents a significant step forward in the transition to electric mobility, considering the rising demand for EVs across the globe.
Overall, Gotion’s decision to invest in Illinois aligns with the state’s commitment to attracting foreign direct investment and fostering the growth of the EV industry. With the creation of thousands of jobs and a substantial manufacturing investment, this endeavor solidifies Illinois as an attractive destination for international companies seeking to establish or expand their operations in the United States.
Definitions:
1. EV: Electric vehicle.
2. Lithium battery: A type of rechargeable battery commonly used in electric vehicles, based on lithium-ion technology.
Sources:
– Illinois Governor’s Office
– REV (Invest in Illinois Fund)
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