AKASOL Inc., a subsidiary of AKASOL AG, a leading German developer and manufacturer of high-performance lithium-ion battery systems for commercial applications, plans to establish a battery system manufacturing facility in metro Detroit, Michigan. The project is expected to generate a total private investment of $40 million and create 224 jobs.
As transportation sectors shift toward electrification globally, AKASOL AG needs to support the significant growth it is experiencing by opening its first dedicated operations plant in North America said Michigan Economic Development Corporation. As a result of this growth, AKASOL Inc. plans to establish a battery manufacturing facility in the Motor City area.
The Michigan Strategic Fund approved a $2.24 million Michigan Business Development Program grant in support of the project as an incentive.
“The Detroit Region is thrilled to have been selected by Akasol AG for its US battery production facility for the commercial vehicle market,” said Barry Matherly, President & CEO of Detroit Regional Partnership. “The company is a global leader in the design and build of e-mobility solutions and our team is pleased we were able to demonstrate a highly compelling business case around the strengths of the region.”
“The decision by AKASOL to establish its first North American facility here underscores the strength of Michigan’s advanced manufacturing industry and robust supply chain,” said Jeff Mason, CEO of MEDC. “We welcome AKASOL’s commitment to Michigan and we look forward to working with the company for years to come as it continues to grow and create jobs here.”