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Gotion acquires EV battery plant in Illinois

December 2023

Client(s) Gotion Inc.

Jones Day represented Gotion, Inc. in connection with the acquisition and financing for an electric vehicle battery manufacturing plant located in Manteno, Illinois as part of an expected $2 billion investment in the facility. The facility will focus on lithium-ion battery cell, battery pack production, and energy storage system integration. Once completed, the facility in Manteno is expected to produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells, which will strengthen the American EV battery supply chain. Gotion utilized the state’s Reimaging Energy and Vehicle (REV) program for economic incentives, and, in connection with that program is required to invest at least $1.9 billion and create a least 2,600 full time jobs.

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