The E-Waste Column no. 63
In today’s column, we will be taking a short high-level look at several new EV battery factories across North America.
🔋 AESC
AESC plans to build three facilities in the U.S. by 2030. Their Tennessee plant is operational, and the construction of their Kentucky and South Carolina plants began in August 2022 and June 2023 respectively. AESC's total investment is projected to be $2.8 billion, with a total promised capacity of 63 GWh.
🔋 BMW
BMW is investing $1.7 billion for an EV production plant and for the buildout of a battery assembly facility in South Carolina. Moreover, BMW and AESC partnered up to invest in a battery cell plant in South Carolina, which will produce BMW’s lithium-ion battery cells.
🔋 Ford
Ford and SK On launched a joint venture called “BlueOval SK” in September 2021 to build three battery plants in the U.S. They secured a $9.2 billion loan from the U.S. government to finance a part of the construction. Two plants are located in Kentucky, and one will be in Tennessee. Ford is also building a lithium iron phosphate plant in Michigan and a battery assembly plant at its facility in Oakville, Canada. Ford’s total investment is projected to be $14.9 billion, with a total promised capacity of 164 GWh.
🔋 General Motors
General Motors partnered up with SolidEnergy Systems in 2021 to build a prototyping facility for lithium-ion batteries in Massachusetts. General Motors and LG Chem formed a joint venture called “Ultium Cells” in December 2022 to build three battery plants in the U.S. They secured a $2.5 billion loan from the U.S. government to fund the project. General Motors and Samsung SDI announced a joint venture for a battery plant in April 2023. General Motors also partnered up with Posco Chemical in March 2022 to build a $400 million facility to produce cathode active materials in Canada. General Motor's total investment is projected to be $13.5 billion (excluding its Canada materials factory), with a total promised capacity of 165 GWh.
🔋 Gotion
Gotion announced its plans to build a battery factory in Michigan in October 2022. It secured $175 million in state funds for this in April 2023. Gotion's total investment is projected to be $2.36 billion.
🔋 Honda
Honda and LG Energy Solutions announced a joint venture in August 2022 for a facility in Ohio. It will produce both cells and modules and supply “pouch type” battery cells. Honda’s engine plant in Ohio is also being built out to add production of casing for battery modules. Moreover, Honda aims to secure battery resource recycling through its agreements with Ascend Elements, Cirba Solutions, and Posco Holdings, amongst others. Honda's total investment is projected to be $4.4 billion, with a total promised capacity of 40 GWh.
💡 Are you curious to learn about more new EV battery factories in North America? Then stay tuned for the extra columns that will be published tomorrow and on Friday.
Read more about the construction of EV battery factories here: https://tcrn.ch/3qwarlc
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