Companies Gotion High tech Co Ltd FollowSept 8 (Reuters) - China's Gotion High-tech Co Ltd (002074.SZ) will set up a $2 billion electric vehicle (EV) lithium battery manufacturing plant in Manteno, Illinois that would create about 2,600 new jobs, the state governor's office said on Friday.
"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.
Once completed, the facility in Manteno is expected to produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells, according to the statement.
Reporting by Pratyush Thakur in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons:
Li Zhen, Pratyush Thakur, Shailesh
Organizations:
Gotion, Co, Global EV, state's Reimagining Energy, Thomson
Locations:
Manteno , Illinois, North America, China, United States, Manteno, Bengaluru