Oh Well!! Worries Grow On Future Of EV/Battery Plants In States Voting For Someone Who Has Vowed To Destroy IRA, EVs

[MichMan]

3. EV Battery Maker Closing 2 Michigan Factories Won't Have To Return $900,000 Strategic Fund Investment

LANSING – A Michigan electric vehicle battery manufacturer will not face financial penalties for moving production out of state. The company told the state earlier this month it planned to close two EV plants and lay off nearly 200 workers.

Akasol received $900,000 from the Michigan Strategic Fund to establish its metro Detroit presence nearly six years ago, according to the Michigan Economic Development Corporation, MLive reported.

The MSF in June 2019 approved Akasol for a $2.24 million Michigan Business Development Program performance-based grant for a proposed $40 million manufacturing facility in metro Detroit that would have created 224 jobs.

That agreement, however, was amended down to $900,000 as the company reduced its plan to 90 jobs.
Akasol met the hiring requirements and retained those jobs through the duration of the agreement as of June 2023, so the company will face no clawback provisions for moving production out of state, MEDC Communications Manager Otie McKinley wrote in an email.

https://mitechnews.com/featured/ev-battery-maker-closing-2-michigan-factories-wont-have-to-return-900000-strategic-fund-investment/