- Two proposed factories for electric vehicle batteries have been added to The Information's Gigafactory Database.
- The factories include a plan by Samsung SDI and Stellantis for a battery factory in the US, and a factory proposed by Tata Group in the UK for Jaguar Land Rover.
- The Gigafactory Database now tracks a total of 66 planned factories in North America and Europe.
- The database also assesses which factories are likely to be built and which ones won't be.
- The addition of these factories reflects the growing demand for electric vehicles and the need for battery production facilities.
Main topic: The onshoring of battery manufacturing for EVs in the United States.
Key points:
1. The number of battery factories in the US has increased significantly, with about 30 factories either planned, under construction, or operational.
2. The Inflation Reduction Act (IRA) signed by President Joe Biden has incentivized automakers and consumers to produce batteries domestically.
3. Automakers and battery manufacturers have collectively invested close to $100 billion in building domestic cell and module manufacturing, with a capacity of over 1,200 gigawatt-hours before 2030.
Hint on Elon Musk: The article mentions Tesla's plans to invest billions in expanding its Gigafactory in Nevada and producing batteries for 1.5 million light-duty vehicles annually.
Hyundai Motor Group and LG Energy Solution are planning to invest an additional $2 billion into their electric vehicle and battery manufacturing plant in Georgia, increasing the total investment to nearly $7.6 billion and creating 400 more jobs. The investment will support the production of 300,000 electric vehicles annually and enhance battery technology for greater range and lower weight.
Daimler Truck, Accelera, and PACCAR have formed a joint venture to advance battery cell production in the United States, focusing on lithium-iron-phosphate (LFP) battery technology for commercial electric trucks, with plans to invest between $2 billion and $3 billion to set up a 21-gigawatt hour (GWh) factory.
Global EV battery developer Gotion High-Tech is investing $2 billion to build a new gigafactory in Illinois, making it the largest EV battery investment in the state's history, with the plant expected to produce 10 GWh of lithium-ion packs and 40 GWh of li-ion cells.
A new Chinese battery manufacturing plant is set to open in Manteno, Illinois, creating 2,600 jobs and producing lithium-ion battery cells and packs for electric vehicles and energy storage systems.
Chinese electric vehicle battery maker Gotion plans to open a $2 billion manufacturing plant in Illinois, creating 2,600 jobs and bolstering the state's ambitions to become a hub for the electric vehicle industry.
Tesla is considering building a battery factory in India to expand its presence in the country's fast-growing economy.
European battery startups are facing challenges in producing affordable batteries at scale to meet the growing demand from the electric car industry, with factors such as supply chain disruptions, regulatory complexities, geopolitical tensions, and high raw material and energy prices dampening investor enthusiasm. The industry also needs to focus on developing smaller, lighter, more efficient, and cheaper battery technology to ensure profitability and support the electrification of the automotive sector.
South Korea's LG Energy Solution has signed an agreement to supply Toyota with lithium-ion batteries for electric vehicles that will be assembled in the U.S., supporting Toyota's expanding battery EV line-up and making them one of LG Energy Solution's clients, bringing their total number of top automakers as clients to nine.
LG Energy Solution is investing $3 billion in Michigan to manufacture lithium-ion batteries for Toyota electric vehicles, creating over 1,000 new jobs.
