Michigan readies another $200 million for battery tech companies

The line to build advanced battery plants in Michigan is starting to form - A123 Systems is ready, so is GM - and now Michigan Governor Jennifer Granholm has officially signed legislation to make another $220 million in tax credits available for companies to make those cells and packs in the mitten state. All told, Michigan is now offering $555 million in new battery tax credits; Granholm said that was the most generous of all the states. The bill proposing the increase was submitted by State Rep. Dian Slavens (D-Canton). On top of the battery money, another $20 million will be added to the $70 million available for integrating and prototyping battery-powered vehicles. The Michigan Economic Growth Authority (MEGA) can now also approve up to $300 million of the total $555 million to help companies build battery-cell manufacturing facilities.

[Source: Detroit Free Press, Canton Eagle]