Eight months after “indefinitely” idling the Belvidere Assembly Plant, Stellantis has committed to investing nearly $5 billion to retool it for production of a new midsize truck, build an adjacent electric vehicle battery plant and create a “megahub” parts distribution center.
The state put together a number of incentive packages to get Stellantis to bring some form of EV production to the idled Belvidere plant. The Invest in Illinois Act created a $400 million “closing fund” to incentivize EV manufacturers and other businesses to locate, expand or remain in the state through favorable financing.
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