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

by Mike Robinson

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© Reuters. FILEPHOTO: Dream Edition P and Dream Edition R are electric vehicles that people test at Lucid Motors’ Casa Grande plant, Arizona. This was on September 28, 2021. REUTERS/Caitlin O’Hara

Paul Lienert

(Reuters) – The U.S. center of gravity in auto manufacturing is shifting south. Electric vehicle and battery manufacturers plan to invest nearly $24 trillion in new plants from Arizona to Georgia.

These plants and investments have already been revealed:

ARIZONA

Startup Lucid Motors recently opened a $300million assembly plant in Casa Grande for electric vehicles. The facility is halfway between Phoenix and Tucson. Future expansion plans are expected to require an investment totaling $1 billion, according to Lucid Motors.

Nikola Corp stated that it plans to construct fuel-cell electric trucks at a Coolidge facility worth $600million.

TEXAS

Tesla Inc (NASDAQ:) is close to completion of the $1.1 billion battery and assembly plant in Austin. The company has also announced that it will be moving its corporate headquarters from California, Texas.

TENNESSEE

Volkswagen AG (OTC): German carmaker Volkswagen AG invested an additional $800 million at its Chattanooga facility to produce electric vehicles. The ID. was launched earlier in the year.

Ford Motor (NYSE – Co) is building a large vehicle and battery assembly plant in Stanton with partner SK Innovation Co. Blue Oval City, valued at $5.6 billion, will open in 2025 and house the F-150 Lightning’s next-generation pickup.

General Motors Co. (NYSE 🙂 will invest $4.3B with LG Energy Solution (a unit LG Chem), to create an electric vehicle assembly line and battery factory in Spring Hill. In 2022, the Cadillac Lyriq will be produced at this assembly plant. A pair of Acura vehicles and two Honda Motor Co. cars will follow in 2024.

KENTUCKY

Ford and SKI have spent $5.8billion to build two new battery plants near Louisville in Glendale. They are expected to be open by 2025-2026.

ALABAMA

Toyota Motor (NYSE) Corp has opened a $2.3 billion facility near Huntsville with partner Mazda Motor (OTC) Corp. They expect to increase production of electric cars in the future.

GEORGIA

SKI will invest $2.6 Billion in Commerce (near Atlanta) in battery plants. The first one is due to open in 2022.

OKLAHOMA

Startup Canoo Inc agreed to construct a plant worth $500 million in Pryor outside Tulsa to produce a variety of electric cars, beginning in 2023.

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