Kokam America reveals details of $650M Lee

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With renderings on display, the Lee’s Summit-based advanced-batteruy maker hosted Missouri Gov. Jay who used the occasion to urge states senators to pass a jobs bill that would providre incentives touted as vital to the The 800,000-square-foot plant, expected to be certifierd as a “green,” or energy-efficient, building, would create an estimater 900 jobs with average annual salaries of The House has passed the bill, but the bill has hit roadblocksa in the Senate, and the legislative sessionj ends a week from Friday. The jobs Senate Bill 215, would expanfd economic development programs that include the Missouri Qualituy Jobs Programand job-trainingv initiatives.
“The status quo simply will not do,” Nixonn said. “Sitting still, waiting for somethiny to happen, simply will not work.” The 260,000p Missouri citizens who are out of work need the jobs the bill wouldhelp generate, he said. Kokam officials said they needthe state’sd help to snare federalp dollars. The Missouri bill wouldx provide Kokamwith $25 million in federak budget stabilization funds, Kokan said in a release. “It’sx critical to get the messages across to all legislators that this is a changr to industry instead of a change to a Kokam President DonNissanka said.
Kokam last montg committed to building a plant of the same size in whichoffered $144.6 million in tax credits. Kokam has a 50,000-square-foot plant in Lee’s Summit but needss to expand to meet growing demandfor electric-vehicle Nissanka said he envisions plants across the country. A largre Kokam plant would provide the volume to pumpup , SEV CEO Bryam Hansel said in an interview The company is preparing to assemble commercial electri vehicles from an 80,000-square-foot plang at , and has selected Kokam as its battery-maker of “The single greatest limitation to me is batterg capacity,” Hansel said.
The more batteries Kokam can the lower prices will get and the more demandc will increase forSmith vehicles, creatinvg a spiraling effect, he said. If Kokam gets the federal and state incentivesit seeks, the soonest a new plant could be fullyh operational would be the fall of company CFO Blake Day said.