CHICAGO - Three government boards in Big Rapids of the US state of Michigan have approved a 30-year property tax exemption for a battery parts facility of a Chinese electric vehicle battery parts manufacturer.
Gotion Inc, a US subsidiary of Chinese battery manufacturer Guoxuan High-Tech Co, is set to invest nearly $2.4 billion in a 523-acre EV battery parts facility on the outskirts of Big Rapids, aiming to create 2,350 jobs in the next decade, local media reported Monday.
The move would save Gotion an estimated $13 million in property taxes annually.
The Gotion project would add to the ongoing wave of battery manufacturing developments in Michigan, including a $1.7 billion LG Energy Solution Inc project in Holland and a $2.5 billion General Motors partnership near Lansing, local media reported.
Big Rapids is a city in the heartland of the US state of Michigan with a population of 10,601 at the 2010 census.
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