FTZ Board Authorizes Production at Lithium-Ion Battery Facility
The Foreign-Trade Zones Board has authorized production under zone procedures at the Saft America Inc. facility within site 10 of FTZ 64 in Jacksonville, Fla. This facility is used for the warehousing, production and distribution of lithium-ion batteries.
Production under FTZ procedures could exempt Saft from customs duty payments on the foreign status components used in export production. On its domestic sales, Saft will be able to choose the duty rate that applies to lithium-ion batteries, lithium-ion batteries for vehicles, lithium-ion battery covers and jelly rolls, battery terminals and battery components (3.4 percent) for the specified foreign status inputs. Customs duties also may be deferred or reduced on foreign status production equipment.