HAZEL PARK, Mich. (WXYZ) — Akasol, a German company that develops and manufactures high performance lithium-ion battery systems, could make Hazel Park home to their first facility in North America.
The site is located on the grounds of the old horse racing track on Ten Mile Road near Dequindre, where the new facility would have Amazon and LG as neighbors.
Akasol would invest $40 million into their North American project and create 224 jobs, according to The Michigan Economic Development Corporation (MEDC).
"Michigan and the Detroit region are thrilled to have been selected by Akasol for this battery production facility for the commercial vehicle market," said Trevor Friedeberg, MEDC's Director of Business Development Projects.
The final step in the process is a property lease deal being reached between Ashley Capital, the owners of the property, and Akasol.
On Tuesday, the board for the Michigan Strategic Fund approved a $2.24 million grant for the Akasol project.
"The company was provided with a performance based grant. It was a very competitive project with other states within the nation," said Friedeberg. "And getting this project here, being a foreign company and deciding to locate in Michigan, is really a big win for us."
