Michigan approves $335 million in tax breaks for battery manufacturers
So far, lithium ion battery efforts here have been relatively limited with the best known examples being Compact Power Inc and a subsidiary of A123 Systems having research and development operations in the state. CPI is a subsidiary of LG Chem and it is believed to have been awarded the supply deal for the Chevy Volt.
The Michigan legislature passed a package of tax credits valued at up to $335 million for battery manufacturing operations in the state. The precise amount of the tax breaks would depend on production volumes.
[Source: Detroit News]
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