Sakti3 to invest $1.1 million in Ann Arbor move, create 112 jobs

Electric cars are considered a big piece of the global warming solutions puzzle. And now that battery technology is starting to catch up with consumer demand, it’s only a matter of time before internal combustion goes the way of the dinosaur.

But finding batteries tough enough to withstand the beating cars take everyday isn’t easy either.

Enter Sakti3, a start-up company that specializes in, you guessed it, high-powered batteries tough enough for the everyday car. The firm plans to invest $1.1 million in Ann Arbor to commercialize a manufacturing process for the development of high-power batteries, primarily in electric vehicles.

The company’s CEO, Ann Marie Sastry, came from her research position at the University of Michigan. The investment is expected to create 112 new jobs in the company.

To help make this happen, the Michigan Economic Development Corporation awarded Sakti3 a $2.3 million tax break over 10 years. This played a significant role in helping keep the aspiring business in Michigan instead of letting it slip out to California.

Source: Michigan Economic Development Corporation
Writer: Jon Zemke