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ALTe LLC Approved to Receive an $8.4M MEDC Tax Credit for Electric Powertrain Development, New Facility in Auburn Hills

Michigan-based electric powertrain company ALTe LLC (earlier post) was approved to receive a tax credit valued at $8.4 million over seven years from the Michigan Economic Development Corporation’s (MEDC) Michigan Economic Growth Authority (MEGA) board.

ALTe is developing light- and medium-duty series plug-in hybrid electric vehicle powertrain systems—initially as conversions, but ultimately extending to an OEM basis.

ALTe also secured a 185,000-square-foot Development and Manufacturing facility in Auburn Hills, Mich. At full production, the facility will produce up to 90,000 powertrains each year.

Comments

SJC

Conversions have their place, but it is a niche. There are so many makes and models that it becomes difficult. If you have a fleet of vehicles about the same make, model and year, it makes things simpler.

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