Chinese battery manufacturer Gotion plans to build a new $2 billion lithium battery factory in Manteno, Illinois. The factory will focus on the production of lithium-ion battery cells, battery packs, and the integration of energy storage systems. Located on an approximately 150-acre site, the facility will produce ten-gigawatt hours of lithium-ion battery packs and 40 gigawatt hours of lithium-ion battery cells per year when completed. The plant is scheduled to begin operations in 2024 and is expected to create 2,600 jobs.
The state’s incentive package for Gotion, known as “REV” (Reimagining Energy and Vehicles), “Invest in Illinois” and other incentives totals $536 million. Under REV, Gotion will receive tax benefits totaling $213 million over a 30-year period. The agreement requires Gotion to make a minimum investment of $1.9 billion and create 2,600 full-time jobs paying at least 120% of the average wage of comparable jobs in Kankakee County. In addition, Gotion was approved by local officials for a 30-year property tax exemption.