Volkswagen-backed Gotion will get $536 million in financial incentives for the project
“As part of Illinois' commitment to build out comprehensive EV hubs and support Illinois' workforce, the state will also fund a new manufacturing training academy nearby, as well as award an additional grant to workforce providers to expand training and prepare regional employees for the new jobs,” the statement said.
Gotion, headquartered in the eastern Chinese city of Hefei, is about 25% owned by Volkswagen, according to an August filing. Chairman Li Zhen and his son own about 7.4% of the company. Li had a fortune worth $1.2 billion on the 2023 Forbes Billionaires List published in April. “When we come to Illinois, we are not building a new factory but are planning to reuse an existing one and bring it back to life again as our way of cherishing and conserving resources. We believe that Gotion's battery technology will help to boost e-mobility in North America and the economic and trade exchanges between China and the U.S."
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