Michigan's Electric Future: A Stalled Dream

Chinese battery company Gotion has abandoned its plan to build a $2.4 billion electric vehicle materials plant in Michigan. Originally announced in October 2022 and expected to create 2,350 jobs, the project faced opposition due to its Chinese ownership. Michigan is seeking repayment of state incentives paid towards the project.

Gotion, a Chinese battery manufacturer, has scrapped its plans to construct a $2.4 billion plant in Michigan intended for electric vehicle materials production. The Michigan Economic Development Corporation disclosed the cancellation on Thursday.

Initially revealed in October 2022, the project promised approximately 2,350 new jobs but attracted criticism over Gotion's Chinese ownership. The Michigan state government confirmed that a $125 million grant was never utilized, and efforts are underway to reclaim $23.6 million used for the land acquisition.

Notably, Volkswagen, based in Germany, holds a significant stake in Gotion High-Tech, the parent company of Gotion.

(With inputs from agencies.)