KORE Power Receives Conditional Commitment for $850 Million from the U.S. Department of Energy’s Loan Programs Office for the KOREPlex Advanced Battery Manufacturing Facility

SourceBusiness Wire
Date Published06/09/2023

Additional Reshoring Information:

Company/Division name KORE Power Inc.
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):1250
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2025
Domestically, the work will be done:In-house
Capital investment ($):850
City reshored to:Buckeye
State(s) reshored to:AZ
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredbattery cells
What non-domestic negative factors made offshoring less attractive?Supply chain interruption
What domestic positive factors made reshoring more attractive?Government Incentives, Govt. Policy and subsidies
Government Incentive dollar amount:$850 million loan
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