Ford Found Buyers for Wixom Plant
Apparently, a Michigan House committee already voted in favor off approving tax breaks amounting to some $100 million for the two possible investors: Xtreme Power and Clairvoyant Energy. According to Autonews, the two companies are already negotiating with Ford the acquisition of the site.
The Detroit Free Press reports that the acquisition, which may cost a total of $725 million, is backed by Michigan Governor Jennifer Granholm. The two companies eyeing the plant are said to have already applied for federal loans to support their efforts, with the deadline for production start set in 2011.
Extreme Powers, based in Austin, Texas, was founded in 2004 and is involved in the development and production of power management and storage systems, ranging from 500 kW to 100 MW. The company is funded by private Clean Tech equity funds.
Clairvoyant Energy, based in Santa Barbara, California, is a solar photovoltaic systems manufacturer and operator. The company is involved in the automotive sector of the industry more than Xtreme, as it has already worked with GM, for instance, on the fitting of the GM plant in Spain with a rooftop solar powerplant.
The revived Wixom plant is rumored to create some 4,000 new jobs in the region. The plant has been on sale since mid-2008.