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Tags: Financial Markets | Infrastructure | Money | electric vehicle | electric car vehicle battery | automotive industry

EV and Battery Makers Target $24 Billion for Southern US Plants

sign for EV station
(Dreamstime)

Sunday, 10 October 2021 06:09 AM

The center of gravity for U.S. auto manufacturing is moving south, with electric vehicle and battery makers planning to spend nearly $24 billion in new factories from Arizona to Georgia.

Already announced are the following plants and investments:

ARIZONA

Startup Lucid Motors has just opened a $300 million assembly plant for electric vehicles in Casa Grande, halfway between Phoenix and Tucson. The company says future expansion plans could take total investment up to $1 billion.

Nikola Corp said it is planning a $600 million facility in Coolidge, not far from Casa Grande, to build fuel-cell electric trucks.

TEXAS

Tesla Inc is nearing completion of its $1.1 billion assembly and battery plant outside Austin, and has said it will move its corporate headquarters from California to Texas.

TENNESSEE

German automaker Volkswagen AG invested another $800 million in its Chattanooga plant to build electric vehicles, starting earlier this year with the ID.4.

Ford Motor Co is building a massive vehicle and battery assembly complex in Stanton, outside Memphis, with partner SK Innovation Co. The $5.6 billion Blue Oval City is expected to open in 2025, building the next-generation F-150 Lightning pickup.

General Motors Co is investing $4.3 billion with partner LG Energy Solution, a unit of LG Chem, to build an electric vehicle assembly plant and battery plant in Spring Hill. The assembly plant will turn out the Cadillac Lyriq in 2022 and a pair of vehicles for Honda Motor Co and its Acura brand in 2024.

KENTUCKY

Ford and SKI are spending $5.8 billion to construct two battery plants in Glendale, near Louisville, to open in 2025-2026.

ALABAMA

Toyota Motor Corp and partner Mazda Motor Corp have opened their $2.3 billion plant near Huntsville, and expect to add production of electric vehicles in the near future.

GEORGIA

SKI is investing $2.6 billion in two battery plants in Commerce, outside Atlanta, with the first slated to open in 2022.

OKLAHOMA

Startup Canoo Inc has agreed to build a $500 million plant in Pryor, outside Tulsa, to assemble a range of electric vehicles, starting in 2023.

© 2021 Thomson/Reuters. All rights reserved.


StreetTalk
The center of gravity for U.S. auto manufacturing is moving south, with electric vehicle and battery makers planning to spend nearly $24 billion in new factories from Arizona to Georgia.
electric vehicle, electric car vehicle battery, automotive industry
343
2021-09-10
Sunday, 10 October 2021 06:09 AM
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