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Chinese battery maker Guoxuan High Tech Co is planning to set up a Michigan that is expected to create 2,000 new jobs, the Detroit News reported on Tuesday, citing sources.
What Happened: Gotion Inc, the U.S. subsidiary of the battery maker, would produce battery components at the facility that could draw up to $3.6 billion in investment.
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The report added that the new facility would initially lead to about 500 jobs and potentially up to 2,000 jobs over the next decade.
An email sent to Gotion by Benzinga seeking comments didn't elicit any immediate response.
The battery maker is known to have partnered with German auto group Volkswagen (OTC:VWAGY) and Indian automotive giant Tata Motors (NYSE:TTM), to produce low-cost batteries for economy EVs.
