DOE Funds US Battery Manufacturing Expansion With $165.9M Loan

URLhttps://www.intersolar.us/energy-storage/us-batter
SourceInter Solar North America
Date Published02/28/2024

Additional Reshoring Information:

Company/Division name American Battery Solutions
Parent companyAmerican Battery Solutions
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):460
Year reshoring announced:2024
Year reshoring implemented or to be implemented:2026
City reshored to:Springsboro OH and Lake Orion Michagan
State(s) reshored to:OH
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredEV Batteries
What non-domestic negative factors made offshoring less attractive?Green considerations, Supply chain interruption
What domestic positive factors made reshoring more attractive?Government Incentives, Govt. Policy and subsidies, Impact on domestic economy, Lead time/Time to market, Proximity to customers/market, DOE Loan and IRA
Government Incentive dollar amount:DOE Loan; $165.9mil
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