Photo: finance.yahoo.com
Michigan Demands Millions Back as Plans for Controversial EV Battery Plant Fail
Michigan is seeking to reclaim $23.6 million from Gotion Inc. after plans for an electric-vehicle battery plant in Big Rapids, Michigan failed amid local opposition.
- In 2022, Michigan lawmakers approved nearly $175 million in incentives for Gotion Inc. to build a $2.36 billion electric-vehicle battery plant in Big Rapids, Michigan.
- The projects collapse followed significant pushback from neighbors and members of Congress, leading the state to declare Gotion Inc. in default of $23.6 million.
- Governor Gretchen Whitmer had initially championed the electric battery plant, highlighting its importance for Michigans role in the electric vehicle industry.
Why It Matters
This event underscores the challenges of attracting foreign investment in the electric vehicle sector, reflecting broader concerns over local opposition and the viability of major infrastructure projects in Michigan.