Michigan May See Growth in Local Battery Production
Articles — By forcechange on January 8, 2009 10:53 am
Given that battery technology will be the key to any Detroit renaissance, it is welcome news that domestic companies are beginning to apply for the government loan program for next generation battery development. One such company is A123Systems, which said on Wednesday that it had applied for such a loan under the U.S. Department of Energy’s Advanced Technology Vehicles Manufacturing Incentive Program.
If the company receives this nearly $2 billion loan, they intend to build a series of factories in Michigan to produce lithium-ion batteries for hybrid and plug-in hybrid cars.
The Detroit News notes that “more than 70 companies have applied to the $25 billion retooling program, with Detroit’s Big Three requesting more than $21 billion. None have been approved yet.”
It is unclear whether A123Systems would also be applying for local tax rebates recently made available to battery companies by the state of Michigan.
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