Oct 8 (Reuters) – The heart of gravity for U.S. auto manufacturing is transferring south, with electrical car and battery makers planning to spend almost $24 billion in new factories from Arizona to Georgia.
Already introduced are the next plants and investments:
Startup Lucid Motors has simply opened a $300 million meeting plant for electrical autos in Casa Grande, midway between Phoenix and Tucson. The firm says future growth plans might take complete funding as much as $1 billion.
Nikola Corp (NKLA.O) stated it’s planning a $600 million facility in Coolidge, not removed from Casa Grande, to construct fuel-cell electrical vehicles.
Tesla Inc (TSLA.O) is nearing completion of its $1.1 billion meeting and battery plant exterior Austin, and has stated it can transfer its company headquarters from California to Texas.
German automaker Volkswagen AG (VOWG_p.DE) invested one other $800 million in its Chattanooga plant to construct electrical autos, beginning earlier this 12 months with the ID.4.
Ford Motor Co (F.N) is constructing a large car and battery meeting advanced in Stanton, exterior Memphis, with accomplice SK Innovation Co (096770.KS). The $5.6 billion Blue Oval City is anticipated to open in 2025, constructing the next-generation F-150 Lightning pickup.
General Motors Co (GM.N) is investing $4.3 billion with accomplice LG Energy Solution, a unit of LG Chem (051910.KS), to construct an electrical car meeting plant and battery plant in Spring Hill. The meeting plant will prove the Cadillac Lyriq in 2022 and a pair of autos for Honda Motor Co (7267.T) and its Acura model in 2024.
Ford and SKI are spending $5.8 billion to assemble two battery plants in Glendale, close to Louisville, to open in 2025-2026.
Toyota Motor Corp (7203.T) and accomplice Mazda Motor Corp (7261.T) have opened their $2.3 billion plant close to Huntsville, and anticipate so as to add manufacturing of electrical autos within the close to future.
SKI is investing $2.6 billion in two battery plants in Commerce, exterior Atlanta, with the primary slated to open in 2022.
Startup Canoo Inc (GOEV.O) has agreed to construct a $500 million plant in Pryor, exterior Tulsa, to assemble a variety of electrical autos, beginning in 2023.