Oct 8 (Businesshala) – With the center of gravity for American auto manufacturing moving south, electric vehicle and battery makers are planning to spend about $24 billion in new factories stretching from Arizona to Georgia.
The following plants and investments have already been announced:
Startup Lucid Motors has opened a $300 million assembly plant for electric vehicles in Casa Grande, halfway between Phoenix and Tucson. The company says that the total investment in future expansion plans could be up to $1 billion.
Nikola Corp (NKLA.o) said it plans to build a $600 million facility in Coolidge, not far from Casa Grande, to build fuel-cell electric trucks.
Tesla Inc. (TSLA.O) 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 AG (VOWG_p.DE) invested $800 million to build electric vehicles at its Chattanooga plant, starting with ID.4, earlier this year.
Ford Motor Company (FN) is building a massive vehicle and battery assembly complex in Stanton, outside Memphis, with partner SK Innovation Company (096770.KS). The $5.6 billion Blue Oval City is expected to open in 2025, building the next generation of the F-150 Lightning pickup.
General Motors Company (GM.N) is investing $4.3 billion with LG Energy Solutions, a unit of LG Chem (051910.KS), to build an electric vehicle assembly plant and battery plant in Spring Hill. The assembly plant will commission the Cadillac Lyrica in 2022 and a pair of vehicles for Honda Motor Company (7267.T) and its Acura brand in 2024.
Ford and SKI are spending $5.8 billion to build two battery plants in Glendale, near Louisville, to open in 2025-2026.
Toyota Motor Corp (7203.T) and partner Mazda Motor Corp (7261.T) have opened their $2.3 billion plant near Huntsville, and are expected to add production to electric vehicles in the near future.
SKI is investing $2.6 billion in two battery plants in Commerce outside Atlanta, with the first set to open in 2022.
Startup Canoo Inc. (GOEV.O) has agreed to build a $500 million plant in Prior, outside Tulsa, to assemble a range of electric vehicles starting in 2023.