×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: 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 EDT

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.

© 2022 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
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved