– Milwaukee’s M12 electric vehicle battery will cost about $1 million, with the final price tag in 2019 expected to be about $2.6 million.
Milwaukee County Circuit Judge Paul Moseley Jr. approved the deal Wednesday with a tentative agreement to pay for the battery from Milwaukee County taxpayers.
Moseley said the county was in the midst of an economic recovery and needed more money to get its M12 program running, including for maintenance, equipment and upgrades.
He approved the tentative agreement with the county to pay the battery cost from the county’s rainy day fund.
Mowgli County Judge Michael Schulze approved the agreement Thursday.
He said the $1,735,000 payment was necessary to cover costs related to a $7 million, seven-year, 10-year loan the county extended to Mowgles electric vehicle maker, Powertech.MOWGLE COUNTY ELECTRIC VEHICLE BOARDThe County Board is expected to approve the $2,715,000 bond on Monday.MOSELEY, Mosely & Co. LLC is the county-appointed receiver.
The county agreed to pay Mowles $1 per kilowatt hour.
Powertech, a Milwaukee-based company, agreed to sell $1 to $2 million in battery batteries to the county.
The batteries will be delivered to the Milwaukee County Sheriff’s Office, Milwaukee County Fire Department and other county agencies in 2019.
The Mowgs will get $1 from the rainy day account for every kilowatthour generated.MONEY FROM THE RESERVEONAPPROVED BY JUDGEMAIL, COURTTRACKERS, APPRENTICE COURT, COUNTY RECORDERS, MONEY MARKET, PUBLIC LAW AND RECORDER AND BY THE COURTS MISSIONER.