Illinois Lands $2 Billion EV Battery Plant With $330 Million in Incentives

Gotion, a Chinese battery company, is building a $2 billion lithium-ion battery plant in Manteno, IL that will create 2,600 jobs and start production in 2024.
The state offered over $330 million in tax incentives to attract the plant, the largest such deal in decades.
The plant will make batteries for electric vehicles and energy storage. It's the 5th deal under the state's REV program to boost EV manufacturing.
The state will provide $213 million in tax credits over 30 years, 9 times more than previous REV deals combined. Gotion will also get $125 million from a state "closing fund."
The deal comes as Illinois pushes to be a leader in clean energy manufacturing. EV adoption by consumers is also rising rapidly, with over 80,000 electric cars now on state roads.

Gotion, a Chinese battery company, is building a $2 billion lithium-ion battery plant in Manteno, IL that will create 2,600 jobs and start production in 2024.
The state offered over $330 million in tax incentives to attract the plant, the largest such deal in decades.
The plant will make batteries for electric vehicles and energy storage. It's the 5th deal under the state's REV program to boost EV manufacturing.
The state will provide $213 million in tax credits over 30 years, 9 times more than previous REV deals combined. Gotion will also get $125 million from a state "closing fund."
The deal comes as Illinois pushes to be a leader in clean energy manufacturing. EV adoption by consumers is also rising rapidly, with over 80,000 electric cars now on state roads.