EV and battery makers target $24 billion for southern U.S. plants

By Kitco News / October 08, 2021 / www.kitco.com / Article Link

(Reuters) - 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:ARIZONAStartup 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.TEXASTesla 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.TENNESSEEGerman 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.KENTUCKYFord and SKI are spending $5.8 billion to construct two battery plants in Glendale, near Louisville, to open in 2025-2026.ALABAMAToyota 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.GEORGIASKI is investing $2.6 billion in two battery plants in Commerce, outside Atlanta, with the first slated to open in 2022.OKLAHOMAStartup Canoo Inc has agreed to build a $500 million plant in Pryor, outside Tulsa, to assemble a range of electric vehicles, starting in 2023.Reporting by Paul Lienert in Detroit; Editing by Dan Grebler Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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