JCI/Saft announce $220 Million facility to make LI batteries in Holland

[GRDadof3 1565]

Huge news for Holland today. Johnson Controls, Inc. and Saft Advanced Power Solutions announced today that they have formed a joint venture to build lithium ion batteries, and will invest $220 Million in a facility in Holland for production.

http://www.mlive.com/business/west-michiga...t_advanced.html

The project to produce the cells for automotive applications is expected to create 498 jobs.

The plant will be at Meadowbrook and 48th Street, and will produce 15 million lithium ion cells a year.

Michigan economic development officials approved a Michigan Business Tax Credit valued at $48.5 million over 15 years. The project also is tapping a new Battery Cell State Tax credit that has a value of $100 million over four years.

That comes from the $555 million in battery tax credits the state Legislature approved late last year and earlier this year.

I seem to remember a similar idea a few years ago from a certain forumer here at UP....