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

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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.

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The following plants and investments have already been announced:

Arizona

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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. said it plans to build a $600 million facility in Coolidge, not far from Casa Grande, to build fuel-cell electric trucks.

Texas

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Tesla 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.

Tennessee

German automaker Volkswagen AG invested $800 million to build electric vehicles at its Chattanooga plant, starting with the ID.4, earlier this year.

Ford Motor Company is building a massive vehicle and battery assembly complex in Stanton, outside Memphis, with partner SK Innovation Company. 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 Co. is investing $4.3 billion with LG Energy Solutions, a unit of LG Chem, to build an electric vehicle assembly plant and battery plant in Spring Hill. The assembly plant will commission a Cadillac Lyric in 2022 and a pair of vehicles for Honda Motor Company and its Acura brand in 2024.

Kentucky

Ford and SKI are spending $5.8 billion to build two battery plants in Glendale, near Louisville, to open in 2025-2026.

alabama

Toyota Motor Corp. and partner Mazda Motor Corp. have opened their $2.3 billion plant near Huntsville, and are expected to add production to electric vehicles in the near future.

Georgia

SKI is investing $2.6 billion in two battery plants in Commerce outside Atlanta, with the first set to open in 2022.

Oklahoma

Startup Canoo Inc. has agreed to build a $500 million plant in Prior, outside Tulsa, to assemble a range of electric vehicles starting in 2023. (Reporting by Paul Leinert in Detroit; Editing by Dan Grebler)

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