Auburn Hills-based electric powertrain manufacturer Alte LLC is speeding up its hiring schedule, with plans to create more than 300 jobs by the end of 2011, as it sets its sites on retrofitting fleet vehicles.
As reported by Crain’s in February, the company plans to invest $51.3 million in its Auburn Hills assembly plant to manufacture the hybrid-electric vehicle powertrains.
The systems will not only enhance the vehicles’ fuel economy, but also reduce greenhouse gases and create jobs as part of a new automotive economy, CEO John Thomas said.
In exchange for an $8.5 million tax credit issued by the Michigan Economic Development Corp., Alte in February said it expected to create 305 jobs over the next five years.
The supplier expects to have capacity to produce 8,500 electric powertrains annually by 2012 and to increase capacity each year to reach production of 90,000 of the hybrid systems by 2015.
“Our market is 10 to 12 million fleet vehicles,” Thomas said. “This is just the beginning.”
Crain’s reported in December that Alte hopes to generate $2 billion in annual revenue by 2013.
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Source: crainsdetroit.com
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