Canadian auto supplier Magna International Inc. plans to invest up to $70.1 million over the next five years to build an EV battery component plant in Michigan.
The 345,000-square-foot plant in St. Clair, Mich., is expected to employ 304 and is supported by a $1.5 million grant from the state of Michigan, or more than $4,900 per qualified job.
The planned investment is the result of a new eight-year contract win to produce structural battery enclosures, the Michigan Economic Development Corp. said in a memo. The components will be used in the 2022 GMC Hummer EV, Magna said in a statement Tuesday. The steel, aluminum and composite enclosures are designed to protect the electric batteries from water and other elements that could cause damage.
"Bringing this new battery enclosure technology to market is another example of Magna's ability to deliver a full-system solution to automakers supporting their focus on a lower emissions future," said John Farrell, p…