EV battery makers Gotion, ONE plan new Michigan plants

WASHINGTON/DETROIT, Oct 5 - Chinese battery company Gotion High Tech and Michigan-based startup Our Next Energy will open separate, new electric-vehicle battery plants worth a combined $4 billion in Michigan, Governor Gretchen Whitmer announced on Wednesday. Michigan will provide about $715 million in financial incentives for the Gotion facility and $237 million for the ONE facility. Gotion, a publicly traded company in China also known as Guoxuan High Tech Company, is partly owned by German automaker Volkswagen AG. German automaker BMW is an investor in ONE. Legislation passed by U.S. Congress in August imposes requirements on a $7,500 EV tax credit designed to spur North American production of vehicles and battery components. Automakers are racing to in-source more battery and component production. New EV tax credit restrictions on battery and mineral sourcing and price and income caps take effect on Jan. 1. Chuck Thelen, vice president of Gotion Global, said in a statement the company is "Dedicated to bringing world class lithium battery production to North America and delivering high-quality products to our customers in a timely fashion." Massachusetts startup 6K Energy is partnering with ONE to integrate material refining into the Michigan complex.