2023.09.09Chinese battery manufacturer Gotion High-tech has finalized its plan to build a factory in the United States, investing approximately RMB 14.7 billion (approximately USD 2 billion) and receiving subsidies equivalent to approximately RMB 40 billion.

On September 9, 2023, Chinese battery manufacturer Gotion High-tech finalized its plan to invest approximately RMB 14.7 billion (approximately USD 2 billion) to build a mega-factory in Illinois, with production scheduled to begin the following year.

In a statement on Friday, Illinois Governor J.B. Pritzker said that the factory would provide 2,600 jobs, calling it “the most significant new manufacturing investment in Illinois in decades.” Gotion High-tech’s new factory will focus on the production of lithium-ion battery cells, battery packs, and energy storage systems, and will be eligible to receive incentives worth USD 5.36 billion (approximately RMB 39 billion) from the State of Illinois. As part of Illinois’ incentive program, Gotion High-tech will be eligible for USD 213 million in tax benefits over 30 years.