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Michigan Awards $543.5M in Tax Credits to Four Battery Makers, Who Announce Plans for $1.7B Investment in Li-ion Battery Plants in Michigan

Green Car Congress

million in tax credits to four battery companies announcing plans to invest more than $1.7 billion in Li-ion manufacturing facilities in the state. The four companies receiving the tax credits and announcing plant plans are Johnson Controls-Saft Advanced Power Solutions LLC; KD Advanced Battery Group LLC; A123Systems Inc.;

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A123 Systems 8K filing says substantial doubt about its ability to continue as a going concern; status of grants and incentives

Green Car Congress

million to replace battery modules and packs that may contain defective prismatic cells produced at A123’s Livonia, Michigan manufacturing facility. In addition, the company recorded an inventory charge of approximately US$15.2 In addition, the Company is evaluating various options to raise cash in the capital markets.

Grant 299
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Battery companies receive cash boost

Green Cars News

Investment in advanced battery companies continues in the USA where the Michigan Economic Growth Authority (MEGA) has awarded $543.5million in tax credits to four companies with plans to invest more than $1.7billion in lithium-ion manufacturing facilities across the state.