Chinese EV battery parts maker gets 30-year tax break in U.S. Michigan

By Xu Jing
  • World
  • Wednesday, 28 Sep 2022

CHICAGO, Sept. 27 (Xinhua) -- Three government boards in Big Rapids of the U.S. state of Michigan have approved a 30-year property tax exemption for a battery parts facility of a Chinese electric vehicle battery parts manufacturer.

Gotion Inc., a U.S. subsidiary of Chinese battery manufacturer Guoxuan High-Tech Co., is set to invest nearly 2.4 billion U.S. dollars in a 523-acre EV battery parts facility on the outskirts of Big Rapids, aiming to create 2,350 jobs in the next decade, local media reported Monday.

The move would save Gotion an estimated 13 million dollars in property taxes annually.

The Gotion project would add to the ongoing wave of battery manufacturing developments in Michigan, including a 1.7-billion-dollar LG Energy Solution Inc. project in Holland and a 2.5-billion-dollar General Motors partnership near Lansing, local media reported.

Big Rapids is a city in the heartland of the U.S. state of Michigan with a population of 10,601 at the 2010 census.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

Russian opposition figure gets 8-1/2 years' jail on 'false information' charge
Griner back in U.S. in 'good spirits' as Russia's Bout lands in Moscow
UK sanctions Russian and Iranian officials, citing human rights abuses
US woman, father found dead after her toddler answers phone call from worried co-worker
Canada adds sanctions on Russia, Iran, Myanmar over human rights
France's EDF turns up nuclear as cold snap tests energy resolve
Russian state media lauds Putin's 'win' on Viktor Bout exchange
Vietnam vessel saves 154 Rohingya from sinking boat, transfers to Myanmar navy
Pakistani journalist's killing in Kenya a pre-meditated murder -report
French President Emmanuel Macron slams TikTok algorithm over censorship, ‘addiction’

Others Also Read