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Month: September 2022

Details emerge on $2.4 billion EV battery plant in West Michigan

Details emerge on $2.4 billion EV battery plant in West Michigan

GRAND RAPIDS — Economic developers confirmed Friday that electric vehicle battery maker Gotion Inc. is planning a nearly $2.4 billion factory near Big Rapids, aiming to create 2,350 jobs in the next decade.

An application submitted to the state Thursday by The Right Place — West Michigan’s economic development agency — seeks approval for a 30-year, property tax-free Renaissance Zone on 523 acres spanning Big Rapids Township, Green Township and Mecosta County.

Creation of the Renaissance Zone would save Gotion, a Chinese subsidiary, an estimated $13 million in property taxes annually, according to the application.

Township and county leaders will vote on the request at a special meeting at 7 p.m. Monday.

Headquartered in Silicon Valley’s Fremont, Calif., Gotion makes electronics, battery packs and energy storage technology for electric vehicles at locations in Ohio, China, Japan, Singapore and Germany.

Volkswagen is the company’s largest shareholder, with a 26.5 percent stake. read more