All articles tagged with #ev battery plant
Toyota has begun production at its first US EV battery plant in North Carolina, marking a significant milestone with a $13.9 billion investment that will create over 5,000 jobs and support its expanding lineup of electrified vehicles, while also planning to invest an additional $10 billion in the US over the next five years.
Stellantis and China's CATL have announced a joint venture to build a €4.1 billion ($4.3 billion) lithium iron phosphate battery plant in Zaragoza, Spain, expected to be operational by 2026. The plant aims to produce up to 50 gigawatt hours of batteries, enhancing Stellantis' electric vehicle production capabilities in Europe. This collaboration comes amid challenges in the European EV market, including affordability and infrastructure issues. The venture highlights a strategic move towards sustainable and innovative battery production.
Gotion, a Chinese company, is suing Green Charter Township in west Michigan for allegedly blocking a $2.4 billion electric vehicle battery plant. The lawsuit comes after the township's board, which had members elected on an anti-project platform, voted to reverse an agreement crucial to the plant's construction. Gotion claims the delays will harm the region and is seeking a federal judge to order the township to comply with its obligations. The project has faced pushback, including concerns about Chinese government influence and lack of community engagement. Gotion plans to invest $2.4 billion and create thousands of jobs, with support from Michigan officials.
Ford is scaling back its plans for an electric vehicle battery facility in Marshall, Michigan, reducing the number of jobs by 800 and cutting over $1 billion in investment. The production capacity of the plant will be reduced by approximately 40%. Despite the cuts, Ford still intends to open the plant by 2026. The company cited slower-than-expected growth in electric vehicle adoption as the reason for the reduction. The cuts will likely result in a reduction of the $1.8 billion in taxpayer subsidies promised for the project.
Despite Ford scaling back its plans for a $3.5 billion EV battery plant, financial expert Jim Cramer believes that the company is still a good buy, emphasizing its potential in the electric vehicle market.
Toyota is investing an additional $8 billion in its North Carolina EV battery plant, despite delays in EV production from Ford and GM. The funding will create around 3,000 jobs and bring the total investment to approximately $13.9 billion. Toyota aims to make the plant the epicenter of North American battery production and plans to produce over 30 GWh of batteries annually once fully operational. In contrast, Ford and GM have delayed their EV investments and production, potentially setting themselves back in the growing EV market.
Stellantis and Samsung SDI are planning to invest over $3.2 billion in a new electric vehicle battery plant in Kokomo, Indiana. This announcement comes amidst labor strikes and contract negotiations between Stellantis and the United Auto Workers union. The plant, which will be Stellantis' sixth battery plant globally, is expected to create 2,800 new jobs and is crucial to the automaker's plans for electric vehicle production. The first plant is already under construction and set to begin production in early 2025, while the second plant is expected to start production in early 2027.
Stellantis and Samsung plan to build a second EV battery plant in Kokomo, Indiana, despite concerns from current Stellantis workers who see such plants as a threat to their existing jobs building engines and transmissions. The joint venture between Stellantis and Samsung, called StarPlus Energy, previously chose Kokomo for its first gigafactory, and the second plant will bring about 1,400 new jobs to the town. The factories will help Stellantis meet its goal of having battery electric passenger cars account for 100% of its sales in Europe and 50% of its sales in the US by 2030. The United Auto Workers union strike, which is currently ongoing, has made the future of jobs building EVs a central issue.
Ford is halting construction on its planned electric vehicle battery plant in Michigan due to concerns over its ability to competitively operate the facility. The decision comes amid criticism from Republicans over the company's use of licensed Chinese battery technology. The pause in construction coincides with the ongoing United Auto Workers strike against Ford, GM, and Stellantis, which is expected to raise labor costs for automakers as they shift focus to producing electric vehicles. The planned $3.5 billion plant in Marshall, Michigan, would employ 2,500 workers and become the first automaker to manufacture next-gen lithium, iron, phosphate batteries on U.S. soil.
Hyundai Motor Group and LG Energy Solution will jointly build a $4.3 billion EV battery plant in Georgia, with an annual production capacity of 30 GWh, supporting the production of 300,000 EVs annually. The investment is expected to create 3,000 jobs. The move is aimed at meeting the domestic manufacturing requirements of the Biden administration’s Inflation Reduction Act, which offers a $7,500 tax credit for EVs. Construction of the plant will start in the second half of 2023, with battery production expected to start at the end of 2025 at the earliest.
Stellantis has paused construction on its planned EV battery plant in Windsor, Canada, due to a funding dispute with the federal government. The joint venture planned to invest over CAD 5 billion ($4.1 billion) for a 45 GWh battery manufacturing facility in Windsor, which was slated to create an estimated 2,500 jobs in the area. The lack of federal support has caused the construction halt, and the timeline for the plant's opening may need to be pushed back.
General Motors and Samsung SDI are expected to announce plans for a joint venture electric vehicle battery manufacturing plant in the US as early as Tuesday, according to sources. The location of the plant has not been disclosed, but sources suggest that GM and Samsung SDI may have more than one plant in North America. The move comes as GM looks to diversify its battery supply chain and secure capacity of components to support its electrification goals.
Panasonic is considering building an EV battery plant in Oklahoma, its third in the US, as demand for electric vehicles surges. The Japanese company is in talks with Stellantis and BMW about building a new EV plant in North America. Panasonic rejected Oklahoma as the site for its second EV battery plant in July 2020, choosing Kansas instead to make batteries for Tesla.