Fortescue to establish a major US manufacturing facility
Fortescue Metals Group Ltd has announced it is expanding its global manufacturing capabilities, investing US$35 million to kick-start a US Advanced Manufacturing Centre in Michigan, USA.
According to the ASX announcement, the facility is expected to become “a major hub for Fortescue’s production of automotive and heavy industry batteries, hydrogen generators, fast chargers, and electrolysers”.
The company said the facility has the potential to create up to 600 jobs in its first phase.
“Fortescue’s Advanced Manufacturing Centre will breathe fresh life into the birthplace of the automotive industry,” said Andrew Forrest, Fortescue Executive Chairman. “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.”
Fortescue’s new manufacturing centre is anticipated to directly benefit from the US Government’s Inflation Reduction Act tax credits for battery modules, up to US$10 per kWh.
“Michigan and the United States are extremely attractive places to manufacture, given the skilled workforce, existing supply chain and significant incentives from state and federal governments, including the Inflation Reduction Act,” said Fortescue Energy CEO Mark Hutchinson.
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