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

10/08/2021 | 01:58pm EST
Workers assemble electric vehicles at the Lucid Motors plant in Casa Grande

(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:

ARIZONA

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.

TEXAS

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 another $800 million in its Chattanooga plant to build electric vehicles, starting earlier this year with the ID.4.

Ford Motor 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 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.

KENTUCKY

Ford and SKI are spending $5.8 billion to construct 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 expect to add production of electric vehicles in the near future.

GEORGIA

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

OKLAHOMA

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.

(Reporting by Paul Lienert in Detroit; Editing by Dan Grebler)

By Paul Lienert


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CANOO INC. -2.69% 9.95 Delayed Quote.-26.30%
CARPARTS.COM, INC. 1.69% 13.82 Delayed Quote.9.69%
HONDA MOTOR CO., LTD. -0.64% 3237 End-of-day quote.12.49%
LG CHEM, LTD. 5.63% 751000 End-of-day quote.-8.86%
LG CORP. 2.08% 83600 End-of-day quote.-12.90%
MAZDA MOTOR CORPORATION 0.00% 945 End-of-day quote.36.56%
NIKOLA CORPORATION -0.24% 10.36 Delayed Quote.-32.18%
SK INNOVATION CO., LTD. 2.22% 207500 End-of-day quote.9.21%
TESLA, INC. -1.79% 1050.25 Delayed Quote.51.48%
TOYOTA MOTOR CORPORATION -1.76% 2068 End-of-day quote.29.95%
VOLKSWAGEN AG -0.77% 182.92 Delayed Quote.20.94%
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