Major automakers invest billions in US battery plants for EV production.

General Motors and Hyundai are investing $8 billion in new battery manufacturing plants in the US to meet local sourcing requirements for federal electric vehicle tax credits. GM is partnering with Samsung SDI on a $3 billion plant that will open in 2026, while Hyundai and SK On are building a $5 billion plant in Georgia that will begin operations in 2025. The new facilities will have a combined annual manufacturing capacity of 65 gigawatt-hours of cells, enough for approximately 1.3 million electric vehicles.