Factbox-EV and battery makers target $24 billion for southern U.S. plants
By Paul Lienert
(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:
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.
Tesla (NASDAQ: TSLA ) 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.
German automaker Volkswagen (DE: VOWG_p ) AG invested another $800 million in its Chattanooga plant to build electric vehicles, starting earlier this year with the ID.4.
Ford Motor (NYSE: F ) 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 (NYSE: GM ) 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.
Ford and SKI are spending $5.8 billion to construct two battery plants in Glendale, near Louisville, to open in 2025-2026.
Toyota Motor Corp (T: 7203 ) and partner Mazda Motor Corp (T: 7261 ) have opened their $2.3 billion plant near Huntsville, and expect to add production of electric vehicles in the near future.
SKI is investing $2.6 billion in two battery plants in Commerce, outside Atlanta, with the first slated to open in 2022.
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.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or