Yet another electric vehicle charging company is targeting Southeast Michigan for operations.German EV charging company EcoG GMBH plans to invest $14.4 million and create a North American headquarters in Detroit's Corktown neighborhood, adjacent to Ford Motor Co.'s roughly $800 million Michigan Central project, according to a briefing memo from the Michigan Economic Development Corp.
EcoG would be headquartered in the renovated Book Depository building, now called Newlab. The Michigan Strategic Fund board on Tuesday approved a $1.5 million Michigan Business Development Program grant as part of the capital stack to make the EcoG development economically viable, according to a memo from the MEDC to the MSF board. The memo says the company also considered facilities in Georgia and Ohio for its investment.
“This project aligns with the MEDC’s strategic focus area of supporting a business in the target industry of mobility and builds on the state's work to position itself as the global leader in the future of mobility and vehicle electrification,” according to the memo. “The proposed project will also impact the local region with high wages from an emerging EV technology provider.”

The planned project would result in up to 45 new jobs paying $2,777 per week plus benefits, according to the memo. Founded in 2017 in Munich, Germany, EcoG has 42 employees and a 15% market share in the European Union EV charging market.

EcoG has partnerships with about 30 car manufacturing companies, including each of the Big 3 automakers headquartered in metro Detroit, according to the memo. The company raised nearly $6.3 million in a Series A venture capital funding in late 2022, according to Pitchbook, a data provider for the startup and venture capital sector.
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