Michigan awarded incentives to two new battery projects -- a local startup building a cell plant and a Chinese firm that may produce battery components -- as Governor Gretchen Whitmer seeks to secure future automotive jobs in the state.
Our Next Energy, founded by Apple Inc. veteran Mujeeb Ijaz, is planning to build a $1.6 billion cell factory in southeast Michigan that will make lithium-iron phosphate batteries and eventually hire 2,112 people, the company said Wednesday. Michigan awarded the startup a $200 million grant that will be critical to ordering battery manufacturing equipment, Ijaz said. The company will also get more than $36 million in loans and tax exemptions. The factory is scheduled to come online in 2024 and reach full capacity by 2027.