Two foreign manufacturers of electric vehicle batteries and charging stations are planning to open their locations in Detroit, potentially creating over 600 jobs by the end of the decade. The American subsidiaries of Australian company Fortescue Metals Group and German company EcoG GmbH received approvals for various incentives and benefits from the Michigan Strategic Fund in Lansing on Tuesday.
The Fortescue project involves the renovation of a large, 410,000-square-foot industrial building located at 530 and 601 Piquette Street in the Milwaukee Junction district. The goal is to create a modern office and factory space for the assembly of electric vehicle battery components for cars and heavy industry. The unused facilities on Piquette Street have become Fortescue’s Advanced Manufacturing Center in the United States. The company hopes to begin interior work and launch the first battery assembly line in the building by March 2025.
If all goes according to plan, Fortescue predicts the creation of 560 new jobs at the Piquette Center by 2030. The Piquette building was originally two Fisher Body Automotive plants and was recently used by the New Center Stamping for storage.
“We considered nearly 100 locations in the US for this facility, and ultimately chose Michigan due to the excellent business benefits it offers,” said Judith Judson, CEO of Fortescue WAE, to members of the Michigan Strategic Fund via the ZOOM platform on Tuesday.
The total planned investment by the company is estimated to be $210 million, including $20 million for the purchase of the Piquette property last year, $84 million for future building renovations, and $106 million for new machinery and equipment.
The second company planning a location in Detroit is EcoG GmbH, based in Munich, Germany, which produces computer hardware and software for electric vehicle charging stations. They plan to locate their new North American headquarters in the recently renovated Book Depository building in the Corktown district, now officially known as Newlab at Michigan Central Building.
The EcoG subsidiary hopes to create up to 45 new high-paying jobs in Detroit within five years. Employees will be hired in research and development, marketing, and administration departments, with an average annual salary of $145,000.
EcoG also considered placing its North American headquarters in Atlanta or Cleveland before deciding on Detroit. The company plans to open the headquarters to expand its operations in the US market.
Newlab at Michigan Central Building opened last year and is now a workplace for around 80 different companies employing 450 workers.
The introduction of these two electric vehicle industry companies to Detroit will help create jobs, support the local economy, and develop the automotive industry in the region. It also demonstrates that Detroit remains an attractive location for foreign investors who see the city’s potential and human resources as favorable conditions for the growth of their businesses.
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The source of the article is from the blog elperiodicodearanjuez.es