Innovation & Job News

State approves tax credits for GM, Ford battery research

Thursday, February 19, 2009

The car batteries of the future will be made where the automobile was first perfected, right here in Metro Detroit.

State officials have approved tax incentives that will allow General Motors and Ford to develop and build lithium-ion batteries here in Metro Detroit. The two corporate behemoths will invest tens of millions of dollars and create hundreds of jobs thanks to $61.8 million in tax incentives.

Ford received $55 million in tax incentives to advanced battery and electrical vehicle development in Metro Detroit. Think hybrids, plug-in hybrid electric vehicles and battery electric vehicles.

Ford plans to bring four new electric/hybrid vehicles to market by 2012. These include a full battery commercial Transit Connect van-type commercial vehicle in 2010, a full battery electric passenger car by 2011 and plug-in hybrid vehicles by 2012.

GM is considering buildings its lithium ion batteries for the Chevrolet Volt in southeast Michigan. The company would invest about $43 million and create 140 new jobs if and when it makes it happen. GM is still considering other locations, but the state hopes the $6.8 million in tax incentives will convince Mother Motors to stay close to home.

Source: Michigan Economic Development Corporation
Writer: Jon Zemke

Innovation & Job News

State approves tax credits for GM, Ford battery research

Related Tags