The E-Waste Column no. 64
- Oct 5, 2023
- 2 min read
We will be continuing with our high-level look at several new EV battery factories across North America today.
🔋 Hyundai
Hyundai and SK On formed a joint venture in April 2023 to build a $5 billion battery plant in Georgia. In March 2023, they formed another joint venture to build a battery cell factory in Georgia. Hyundai's total investment is projected to be $9.3 billion, with a total promised capacity of 65 GWh.
🔋 LG Energy Solution
LG Energy Solution has joint ventures with General Motors, Honda, and Hyundai to build battery factories in North America. LG plans to quintuple both the capacity of its lithium-ion cell plant in Michigan and its investments in its new factory in Arizona. Until 2025, LG plans to spend up to $17 billion on constructing eight factories with a capacity of 300 GWh. Two of these factories are already operational.
🔋 Mercedes-Benz
Mercedes-Benz opened a battery plant in Alabama in 2022. Moreover, Mercedes-Benz and Sila are working together on the production of silicon battery cells at Sila’s facility in Washington state. Mercedes-Benz's total investment is projected to be $1 billion.
🔋 Northvolt
Northvolt is building a lithium-ion battery gigafactory in Quebec, with an annual cell manufacturing capacity of 60 GWh. The first 30 GWh phase of the project is expected to cost $5 billion and is due to commence before the end of 2023. In 2021, Northvolt acquired Cuberg, which now leads Northvolt’s U.S. battery operations.
🔋 Our Next Energy
Our Next Energy plans to build a gigafactory devoted to lithium-iron-phosphate cells in Michigan. They recently raised $300 million in funding, and plan to carry out raw material refinement, cathode materials production, and cell and battery manufacturing at the factory. Our Next Energy's total investment is projected to be $1.6 billion, with a total promised capacity of 20 GWh.
🔋 Panasonic
In July 2022, Panasonic announced its plans to build the world’s largest EV battery plant. The factory will cost $4 billion to construct and will be located in Kansas. Panasonic Energy of North America has a facility in Nevada, that operates inside Tesla’s Nevada Gigafactory. It plans to expand production by 10% here within the coming three years. In May 2023, Panasonic announced its plans to build at least two new factories in North America by 2030 to produce Tesla battery cells. Panasonic's total investment is projected to be $4 billion, with a total promised capacity of 30 GWh.
💡 Are you curious to learn about more new EV battery factories in North America? Then stay tuned for the third column on this topic, which will be published tomorrow.
Read more about the construction of EV battery factories here: https://tcrn.ch/3qwarlc
Read more about Northvolt’s new factory here: https://northvolt.com/articles/northvolt-six/
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