Enerdel (HEV) Will Invest $237 Million In Indiana Battery Plant

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11:10:36 am on January 22, 2010

Enerdel, a subsidiary of Ener1, just announced that they will be investing $237 million in their new battery plant in Indiana, according to this press release . Backed with a mix of private funds and public incentives, the plant will enable Enerdel to meet anticipated demand for its batteries. It will also more than double Enerdel’s production capacity, allowing Enerdel to produce enough batteries to power 600,000 hybrids or 60,000 electric cars. Private incentives received by Enerdel include a state incentive package of $21.3 million, a local Hancock County package of $48.6 million and an additional $9 million from Federal government programs.

Enerdel is also using part of its $118.5 million federal stimulus grant, awarded under a 50: 50 cost-share program.

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