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Valence Considering Building Battery Plant in US or Europe

Statesman.com. Lithium-ion battery company Valence Technology Inc. is considering building a battery plant in the US or Europe and will look into the possibility of funding from the economic stimulus package proposed by President Barack Obama. Valence currently does most of its production in China.

Customers expressing interest in a US plant include Tanfield Group Ltd., a British electric-vehicle maker, [Valence CEO Bob] Kanode said. On Monday, Tanfield announced a deal with Ford Motor Co. to produce electric vehicles for North America. [Earlier post.]

Before moving forward with plans for a US plant, Valence officials said, they would need a better sense of how the government plans to distribute stimulus money and what strings would be attached. A new factory would have to operate profitably even after incentives ended, Kanode said. “We’re being very careful about doing our homework because at the end of day, our investors want profits,” he said.

Valence is also very focused on the developing hybrid and electric vehicle market in Europe. (Earlier post.)

Comments

Reel$$

This would be a smart move as imports from China have already dropped 60% and massive factory shutdowns have begun.

The Goracle

Don't even think of bringing a business to the U.S. with the 35% corporate tax rate. Go to a country that is friendly towards business. The U.S. under Pelosi/Reid is absolutely NOT friendly towards businesses and jobs.

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