SF Motors Details Major Mishawaka Plans

Posted: Updated:
SF Motors unveiled concept vehicles in March. SF Motors unveiled concept vehicles in March.
MISHAWAKA -

California-based SF Motors has detailed plans for a manufacturing hub in Mishawaka. The electric vehicle maker says it will invest more than $160 million to purchase, renovate and equip the St. Joseph County plant and create up to 467 jobs by 2020. The company says many of the hires will be displaced workers from the facility, which was formerly owned by AM General. 

SF Motors initially announced plans to acquire the Mishawaka commercial assembly plant in June of 2017, saying it would produce "environmentally-friendly, intelligent" electronic vehicles there. At the time, the California company said the only customer contract there was slated to expire at the end of 2017, which would result in a production line shutting down.

The automaker will equip the facility to manufacture at least two lines of its first electric vehicle models. The plant will serve as SF Motors' primary U.S.-based manufacturing operation and house its body and paint shop, general assembly and office administration operations. The company hopes to begin trial production by the end of the year.

According to AM General's website, the plant has produced more than 1.5 million vehicles over its more than 50-year history, including Hummer and Mercedes Benz models.

The Indiana Economic Development Corp. plans to offer SF Motors more than $4 million in conditional tax credits and training grants based on the job creation plans. St. Joseph County is considering additional incentives.

Zhang says SF Motors has big plans in Mishawaka for years to come.
  • Perspectives

    • Market Volatility - Fodder for Financial Fears

      Fact: The value of the stock market goes up and down.  It’s called “market volatility”.  How concerned should you be with a thousand point change in the index? Since your reaction can impact your personal portfolio, it’s most important that you have a good perspective. Significant price movements in the stock market grabbed headlines and captivated media pundits throughout 2018. The last week of the year the market experienced large price swings...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Silberline Closing Decatur Facility

      Pennsylvania-based Silberline Manufacturing Co. is detailing plans to close its facility in Adams County. In a notice to the state, the company says the closure will result in the layoffs of 50 employees.

    • Airport Board Approves New Concessions Vendors

      The Indianapolis Airport Authority Board has approved new contracts for several retail and services vendors at Indianapolis International Airport. The contracts are the first of several approvals that are expected as part of the airport's Concessions Refresh initiative, which aims to increase the local focus among vendors. Marsha Stone, senior director of commercial enterprise at the airport, says the effort will be one of the most impactful public-facing projects that...

    • Two Indiana Banks on Forbes Best List

      Forbes has ranked the best banks in the country and Indiana has placed two on the list. First Merchants Bank finished 2nd, and Old National Bancorp came in at 97. The metrics used by the publication include tangible common equity, return on average assets, net interest margin,  efficiency ratio and net charge-offs as a percentage of total loans. 

    • Jones to Retire as Old National CEO

      Evansville-based Old National Bancorp has announced Chief Executive Officer Bob Jones will retire in May, after 14 years with the bank. Chief Financial Officer Jim Ryan, who has been with Old National since 2000, will succeed Jones. Jones will continue to serve as Old National's chairman of the board through January 2020.

    • 'Unique' Coworking Space Opens in Greenfield

      A new coworking space in Hancock County aims to fill an underserved need in east central Indiana. Idea Co-op features a traditional indoor coworking area, along with 36 acres of outdoor space that can be used by members. The coworking space is operated by Greenfield-based NineStar Connect and director of business and economic development Jill Snyder says the outdoor aspect makes it a unique concept for the region.