A new $2 billion EV battery Gigafactory in Illinois has been announced.

Governor JB Pritzker and Gotion, a battery manufacturing business, announced their choice to locate their new $2 billion electric vehicle lithium battery manufacturing plant in Manteno. The facility will employ 2,600 people and begin production in 2024. “Our common challenges are energy and environmental protection.” To answer these, solar power, wind power, and energy storage devices are becoming the backbone of a new energy system, accelerating the global energy landscape revolution,” stated Li Zhen, Chairman of Gotion High-tech. “When we come to Illinois, we are not going to build a new factory; instead, we are going to reuse an existing one and bring it back to life.”Gotion’s new EV battery plant will help to strengthen the supply chain and meet the rising demand for batteries in the EV industry, including Gotion’s partners and additional EV manufacturers across North America. The factory will specialise in lithium-ion battery cell manufacture, battery pack manufacturing, and energy storage system integration.

When finished, the Manteno factory will be able to produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells. The location will be around 150 acres in size. Following a thorough countrywide search, Gotion chose Illinois to host its gigafactory due to economic incentives through REV Illinois, infrastructure, market access, and available and qualified labour. The assets of Illinois, combined with a comprehensive REV Illinois incentive package and the state’s new Invest in Illinois Fund, aided in securing Gotion’s historic investment in Illinois. Gotion’s overall incentive package from the State of Illinois is valued at $536 million, which includes REV, Invest in Illinois, and other incentives. Gotion is eligible for $213 million in tax advantages through REV over a 30-year period. The REV agreement calls for a $1.9 billion minimum business investment and the development of 2,600 full-time employees paying at least 120% of the average wage for equivalent job classifications in Kankakee County.

Gotion will also be the first beneficiary of Invest in Illinois capital funds in the amount of $125 million. The Fund was enacted in early 2023 to make Illinois more appealing when competing for large projects in competitive industries such as clean energy. Gotion was also granted a 30-year property tax exemption by local authorities. As part of Illinois’ commitment to developing complete EV hubs and supporting the state’s workforce, the form will establish a new manufacturing training academy in the area and provide an additional grant to workforce providers to enhance training and equip regional employees for the new positions.

More from _mtdcnc