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.
Chinese battery maker Gotion High-Tech Co. was awarded $175 million in grants and a zoning designation estimated to be valued at $540 million, according to the Michigan Economic Development Corp. The company has proposed investing $2.4 billion in a plant in Big Rapids, Michigan, to build battery anodes and cathodes and employ as many as 2,350 people according to proposal documents from the MEDC, though the project isn't yet confirmed...
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