Dow Kokam, a joint venture between the three companies mentioned above, will eventually be responsible for the creation of 2,720 direct and indirect jobs (800 of which in the factory itself).
The Midland plant will produce 1.2 billion watt hours of large-format lithium-ion batteries for 60,000 electric or hybrid batteries each year. In the first phase however, Midland will hire 320 people and produce half of the projected output.
"We're making history today for Michigan and for the adoption of alternative energy by the automotive industry," Dow Kokam CEO Ravi Shanker said in a statement. "In just nine short months, Dow Kokam has moved from formation to construction of a manufacturing facility to meet the needs of the next generation of the auto industry."
Aside for the money to be invested by the three companies and the state, the Department of Energy awarded the joint venture $161 through the Recovery Act grant.
"With transformational companies like Dow Kokam, we are creating new green jobs and reshaping Michigan into the clean energy manufacturing capital of North America," said Michigan Governor Jennifer Granholm.
"Today's groundbreaking marks a significant milestone in our strategy to diversify Michigan's economy and grow our continuing leadership position in new energy sectors like advanced battery, solar and wind."
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