Speaking of government action to support electric vehicles, the Ann Arbor city council voted 10-1 last month to approve tax breaks for Mahindra GenZe, the company manufacturing some exciting electric scooters.
Through an industrial facilities tax exemption, the company requested an abatement on $603,110 invested in real property improvements (of which $454,610 qualifies) and $1.75 million invested in new personal property and equipment, according to a report in the Ann Arbor News.
The city's chief financial officer said the tax breaks will save the company about $60,000 over three years, while they will pay about $65,000 in new taxes on the investments.
The city's administration recommended approval of the tax abatement, saying attraction and retention of electric vehicle operations is consistent with the economic growth objectives of both the city and Ann Arbor SPARK, according to the Ann Arbor News story.
“The electric vehicle business is continually changing with new and innovative technology, and Mahindra GenZe needs to expand and acquire new equipment for the manufacture of its vehicle, with anticipation of 10 new employees resulting from the new facility,” city assessor David Petrak said in a memo to the council.
Curious about the GenZe? Check out the video.