Battery Manufacturer Investing in New Indiana Plant

Jan. 22, 2010
EnerDel, an Indianapolis-based manufacturer of lithium-ion battery systems, announced that it will invest $237 million in a new manufacturing plant near its Indianapolis headquarters to meet anticipated demand for advanced battery systems used in both aut

Backed by a mix of private funds and public incentives, the new facilities will more than double EnerDels U.S. production capacity and create 1,400 new jobs, according to the company.

The announcement came during an unveiling of the new EnerDel-powered C30 electric vehicle platform for Volvo Cars, the best-selling platform within Volvo, according to EnerDel. The unveiling was to commemorate 18 months of collaboration between the two companies, with EnerDel and Volvo management outlining the C30s path to commercialization for gathered media and investors. Indiana Gov. Mitch Daniels joined EnerDel and Volvo executives for the event.

State and local economic development incentives are valued at $69.9 million, which comprises a state incentive package of $21.3 million and Hancock County package valued at $48.6 million. EnerDel also has applied for an additional $9 million from federal government development programs.

Demand for high-performance lithium-ion battery systems is expanding dramatically, for vehicles of all sizes as well as the utility grid, and we are going to be fully prepared to meet it with a product stamped Made in America, said Charles Gassenheimer, chairman and CEO of EnerDel parent company Ener1 Inc.

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