Battery Startup Sparkz Opens Its First Factory in California

URLhttps://www.bloomberg.com/news/articles/2022-12-08
SourceBloomberg
Date Published12/08/2022
Author NameDavid R Baker
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Sparkz
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2023
Capital investment ($):700
City reshored to:San Francisco
State(s) reshored to:CA
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredLithium-iron battery
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Government Incentives
Government Incentive dollar amount:$25 million in state grants
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