The Illinois state governor’s office has announced that Chinese battery manufacturer Gotion will establish a new electric vehicle battery gigafactory in Manteno in the state, according to a September 9 report by Reuters. The plant involves an investment of $2 billion, with production set to begin next year. According to the official statement, Gotion plans to produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells once the facility is completed. Gotion is expected to receive $213 million in tax incentives over the next 30 years and $125 million in capital funding from Illinois’ Reimagining Energy and Vehicles incentive package, the report 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. During the first half of 2023, the company’s total revenue reached RMB 15.24 billion ($2.1 billion), a year-on-year increase of 76.42%, according to the firm’s financial report released in August. [Reuters]
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