ALTe to Receive an $8.4 Million Tax Credit for Electric Powertrain Development

Michigan-based electric powertrain company ALTe LLC 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 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, and will create over 300 jobs.

ALTe is developing range extended electric powertrains focusing initially on fleet vehicles such as taxis, limos, delivery trucks, vans and shuttle buses in the light to medium duty vehicle classes.

ALTe LLC is an engineering and technology company committed to leading the evolution of the automobile industry from gasoline-powered vehicles to electric technology.

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