Michigan Economic Development

The Michigan Economic Development Corporation (MEDC), established in 1999, is a public-private partnership agency based in Lansing, Michigan. It is dedicated to fostering economic growth and job creation across the state. The MEDC achieves this by offering a range of business assistance services and capital programs, including business attraction and acceleration, entrepreneurship support, talent enhancement initiatives, and urban and community development projects. Additionally, it promotes tourism, film, and digital media industries, as well as arts and cultural affairs, through various incentives and grants. The MEDC works with businesses, entrepreneurs, and communities both locally and globally to strengthen Michigan's economy.

Quentin Messer Jr.

Chief Executive and Economic Competitiveness Officer, President and Chairman of Michigan Strategic Fund

Past deals in Automotive

Rhythmos

Grant in 2025
Rhythmos.io specializes in analyzing electric vehicle (EV) charging data to optimize energy use and assist utilities in adapting to the growth of electric mobility. The company's platform offers a distribution system-optimized approach that improves asset management for utilities and electric vehicle fleets. By providing insights into the effects of EV load on the distribution grid, Rhythmos promotes transparency for utilities, fleet managers, and EV manufacturers. This transparency helps minimize the infrastructure investments needed for charging stations, which in turn supports the transition to electric vehicles while maintaining affordable electricity rates. Ultimately, Rhythmos contributes to the decarbonization of the power grid and enhances the overall electric mobility ecosystem.

Kettering University

Grant in 2025
Kettering University was founded in 1919 as The School of Automobile Trades and opened under the direction of Albert Sobey to train engineering and management personnel.

Revision Autonomy

Grant in 2024
Revision Autonomy is a transportation innovation company focused on enhancing automated driving technologies. The company specializes in advanced computer vision solutions that improve the functionality of existing advanced driver assistance systems (ADAS). By enabling vehicles equipped with cameras to accurately perceive their environment regardless of weather conditions, Revision Autonomy enhances safety and performance, particularly in adverse situations such as snow. Through its innovative software, the company aims to ensure that automated safety features remain operational, allowing drivers to navigate safely even in challenging weather.

Modal Motors

Grant in 2024
We are Modal Motors, and we are raising for our Seed Round funding. We are a Michigan corporation spun-out from Veolectra, Inc. and have a patent-pending advanced electric motor technology that is ready for commercialization for e-Mobility applications, and we need funding to launch the prototyping phase for our early customers. Our patent-pending electric motor technology is unique and harvests all of the magnetic flux developed inside the electric motor enabling us to achieve the highest torque density and average efficiency direct drive motor on the market. Our motors will have the highest full speed range efficiency due to the fact that our motors do not require back irons for the magnets and are yokeless, which are the source of the highest losses for our competitors’ electric motors. Our motors can even be made without permanent magnets and can utilize aluminum coil windings instead of copper. Our motors are designed for manufacturing in the USA with low capital costs and low to no touch labor making them the most cost-effective solution for our customers and the mobility market. The modular and scalable architecture enables fully automated cell-based manufacturing that is also scalable as volumes and motor sizes increase. Our motor technology has been developed over the past 12 years with numerous prototypes designed, built and tested to bring us to the technological state that we are in today.

EV Thermal Flow Solutions

Grant in 2024
EV Thermal Flow Solutions focuses on developing advanced thermal management systems designed to enhance the performance of electric vehicles. The company addresses the evolving needs of the automotive and commercial vehicle sectors as they transition to electric power. By leveraging a modeling tool and a thermal scenario library, EV Thermal Flow Solutions automates decision-making regarding coolant flow, which allows clients to optimize battery cooling and improve cabin comfort for passengers. Their approach emphasizes integrated system solutions rather than solely new inventions, catering to the comprehensive requirements of the rapidly changing electric vehicle landscape.

Lucid Motors

Grant in 2024
Lucid Motors Inc. is an automotive company that specializes in manufacturing electric vehicles. Founded in 2007 and headquartered in Menlo Park, California, the company aims to create cars that enhance the human experience by surpassing traditional limitations of space, performance, and intelligence. Lucid Motors, which was previously known as Atieva, Inc., changed its name in October 2016. The company operates a manufacturing plant in Casa Grande, Arizona, and has established strategic partnerships with battery manufacturers Samsung SDI and LG Chem to support its production efforts.

Big Rapids Products

Grant in 2023
Big Rapids Products manufactures and supplies metal stampings, assemblies and structural frame components for the automotive industries.

Eaton - eMobility Business

Grant in 2023
Eaton - eMobility Business delivers electric vehicle solutions to passenger car, commercial vehicle and off-highway OEMs.

Polaris

Grant in 2023
Polaris Inc. is a prominent company in the powersports industry, recognized globally for its innovative products and commitment to quality. The company's success is deeply rooted in the ethics and values upheld by its workforce, which were defined collaboratively by employees. To ensure that these values are integral to its operations, Polaris implements a Performance Management Program that assesses employee performance based on both results and adherence to company values. This focus on ethical practices and employee engagement contributes to Polaris's reputation as a leader in its field.

Intramotev

Grant in 2023
Intramotev Autonomous Rail specializes in the manufacture of autonomous, zero-emission rail vehicles aimed at transforming freight transportation. The company produces electric cargo trains that operate autonomously, equipped with advanced sensors and vision systems to enhance safety. These vehicles are designed for use in specialized private railroads, such as those serving mines, manufacturing facilities, and ports. Intramotev’s technology offers a more efficient and cost-effective solution for moving materials compared to traditional diesel-electric locomotives and trucks. The electric drivetrains provide lower emissions, shorter stopping distances, and the ability to navigate steeper grades, making them a viable alternative for the rail and mining industries.

BorgWarner

Grant in 2023
BorgWarner is a prominent global supplier of powertrain solutions, focusing on technologies that enhance fuel efficiency, reduce emissions, and improve vehicle performance. The company operates through three primary segments: the air management group, which manufactures turbochargers, e-boosters, emissions systems, and thermal management products; the drivetrain and battery systems group, which produces components for automatic transmissions, torque management, and battery systems; and the e-propulsion segment, responsible for e-motors and power electronics. With a diverse customer base, BorgWarner's largest clients include Ford and Volkswagen, accounting for significant portions of its revenue. The company's extensive global presence enables it to support its varied customers effectively, with a notable share of its business derived from Europe.

Workhorse Group

Grant in 2022
Workhorse Group is an American technology company based in Loveland, Ohio, specializing in the design and manufacture of battery-electric vehicles and aircraft. Founded in 2007, the company produces medium-duty trucks under the Workhorse brand and develops cloud-based telematics systems for fleet operators to enhance energy and route efficiency. Additionally, Workhorse Group offers the HorseFly delivery drone system, an octocopter-based UAV integrated with electric delivery trucks for efficient last-mile deliveries. The company's approach involves using automotive-grade parts and proprietary control software to build its battery-electric power trains.

Dataspeed

Grant in 2022
Dataspeed specializes in providing advanced hardware and software solutions for researchers and developers in the fields of mobility and robotics. The company offers a comprehensive ADAS Kit that serves as a versatile research and development platform, enabling engineers to quickly implement and test their algorithms, sensors, and data. Dataspeed’s technology facilitates precise electronic control over critical vehicle functions such as throttle, brake, steering, and shifting, which is essential for testing autonomous vehicle applications. By focusing on creating innovative and reliable autonomous vehicle solutions, Dataspeed aims to support clients in their pursuit of safe and cost-effective research and development.

Elite Mold & Engineering

Grant in 2022
Elite Mold & Engineering injection mold supplier. Their molding services are prototype injection molding, low-volume injection molding, high-volume injection molding, and CNC machining. They served the industries that are automotive, consumer, aerospace and defense, industrial, and medical.

Drake Enterprises

Grant in 2022
Drake Enterprises has versatile manufacturing and assembly capabilities. The products are gear shift levers and transmission components for the heavy-duty truck market. They have dedicated work cells for this commodity, starting with raw materials and progressing through extrusion, welding, painting, and finishing with a fully assembled product.

Tooling & Equipment International

Grant in 2022
Tooling & Equipment International offers complete turnkey packages of tooling, fixtures, and automation systems to high volume foundries. They also build pre-production and production prototype aluminum castings for a wide variety of industries.

Prestige Stamping

Grant in 2022
Prestige Stamping, Inc. is a manufacturer based in Warren, Michigan, specializing in washers and small stampings for various industrial and commercial applications. Established in 1967, the company processes a range of materials, including aluminum, brass, bronze, copper, low and high carbon steels, and stainless steel, with thicknesses from .020" to .375". Prestige Stamping offers a variety of heat treatment processes such as case hardening, carbonitride, and bright annealing, along with multiple plating finishes including zinc, nickel, and anodizing. Additional services include micro finishes, grinding, tapping, and reaming, catering to clients in sectors like automotive, construction, and agriculture. The company also provides an online ordering option for its products.

Applied Dynamics International

Grant in 2017
Applied Dynamics International is a computer software company that provides systems engineering software and integrated systems. Applied Dynamics'​ flagship software product, the ADvantage Framework, is used to build powerful, multi-processor, distributed real-time simulation facilities with off-the-shelf computer equipment such as PCs and I/O boards. Applied Dynamics is a privately held firm based in Ann Arbor, Michigan, with staff located at various locations throughout the United States, offices in Derbyshire, UK, and resellers throughout the world.

VDL Steelweld

Grant in 2017
VDL Groep, with its head office in Eindhoven (The Netherlands), is an international industrial company focused on the development, production, and sales of semi-manufactured products, buses & coaches and finished products and the assembly of cars. Since the founding in 1953 this family-owned company has grown to include 87 operating companies, spread over 19 countries with approximately 10,500 employees. The strength of VDL Groep lies in the mutual cooperation between the companies.

Current Motor

Series A in 2011
Current Motor Company is based in Ann Arbor, Michigan, and specializes in the development and manufacture of electric motor scooters aimed at urban commuters. The company produces all-electric maxi-scooters that are designed to be fast, fun, and affordable, offering zero-emission transportation solutions. These maxi-scooters can reach speeds of up to 70 MPH and have a range of up to 50 miles, charging conveniently from a standard 110V outlet in approximately five hours. Current Motor sells and services its products through a network of dealers and has formed a strategic partnership with Dakkota Integrated Systems. The company is supported by various investors, including BELLE Capital and the State of Michigan.
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