https://newsletter.mw.creamermedia.com
Automotive|Business|Energy|generation|Generators|Manufacturing|Mining|Projects|supply-chain|Manufacturing
Automotive|Business|Energy|generation|Generators|Manufacturing|Mining|Projects|supply-chain|Manufacturing
automotive|business|energy|generation|generators|manufacturing|mining|projects|supply chain|manufacturing-industry-term

Fortescue powers up US auto industry with $35m investment

Fortescue founder Andrew Forrest

Fortescue founder Andrew Forrest

17th November 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Prominent Australian mining and green energy major Fortescue Metals Group is expanding its global manufacturing capabilities, announcing a $35-million investment to establish a manufacturing centre in Michigan, US.

The facility, projected to employ up to 600 people in its initial phase, will serve as a major hub for Fortescue’s production of automotive and heavy industry batteries, hydrogen generators, fast chargers and electrolysers.

Fortescue chairperson and founder Dr Andrew Forrest said that the investment would assist to rejuvenate the birthplace of the automotive industry.

“We are committed to investing in the next generation of green manufacturing projects that will help decarbonise business and heavy industry, and in turn create a strong future for manufacturing jobs in the United States,” he said.

The new manufacturing center is poised to benefit directly from Inflation Reduction Act (IRA) tax credits for battery modules, offering up to $10/kWh.

Fortescue Energy CEO Mark Hutchinson highlighted that Michigan and the US were attractive places to manufacture, given the skilled workforce, existing supply chain and significant incentives from state and federal governments, including the IRA.

The Michigan manufacturing investment follows a day after Fortescue announced its green energy investment accelerator platform, which is headquartered in New York, in the US.

Edited by Creamer Media Reporter

Comments

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.065 0.141s - 144pq - 2rq
Subscribe Now