MANTENO, IL—Gotion Inc. plans to build a $2 billion factory here that will mass-produce lithium-ion batteries for electric vehicles. The state-of-the-art facility located just north of Kankakee will ramp up production in 2024.

"Energy and environmental protection are our common challenges,” says Li Zhen, chairman of Gotion High-tech. “To address them, solar power, wind and energy storage systems are becoming the backbone of a new energy system and accelerate the revolution in the global energy landscape.