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Released October 14, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--North America has emerged as the fastest-growing market for electric vehicles (EVs), and some of its largest auto manufacturers are teaming with tech-focused companies based overseas--particularly those from South Korea--to remain competitive in a rapidly changing market. Industrial Info is tracking more than $46.5 billion worth of EV battery projects in the U.S. and Canada.
General Motors Company (NYSE:GM) (GM) (Detroit, Michigan) upped the ante this week when it announced GM Energy, a subsidiary that will focus on "energy management services, and drive growth beyond the core vehicle portfolio." Much of the new business will cater to EV customers through battery-charging and storage products.
"The reliability of the U.S. electrical power grid has never been more important," said Travis Hester, the vice president of GM EV Growth Operations, in a press release announcing the development. "GM Energy has the opportunity to help deliver sustainable energy products and services that can help mitigate the effect of power outages and provide customers with resilient and cost-effective energy management."
Click on the image at right for a graph detailing the top 10 parent companies for EV battery projects in the U.S. and Canada.
Two such projects under construction are spearheaded by Ultium Cells LLC, a joint venture between GM and LG Energy Solution Limited, a subsidiary of LG Chem Limited (Seoul, South Korea): a $2.6 billion battery cell-manufacturing facility in Lansing, Michigan, which is designed to supply battery cells to the Orion Assembly Plant, and a $2.3 billion battery plant in Spring Hill, Tennessee, which will supply the nearby Spring Hill Auto Assembly Plant.
The Orion and Spring Hill plants are developing GM's newest generation of EVs, which include the GMC Hummer EV, Cadillac Lyric and Cruise Origin. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed project reports on the Lansing and Spring Hill battery projects. Subscribers to Industrial Info's GMI Plant Database can read detailed profiles of the Orion and Spring Hill assembly plants.
In August, the U.S. Department of Energy (DOE) announced a conditional loan of $2.5 billion to Ultium Cells for the construction of battery-manufacturing facilities in Ohio, Tennessee and Michigan. For more information, see August 1, 2022, article - GM EV Battery Joint Venture to Receive $2.5 Billion DOE Loan.
Ultium Cells also is conducting site studies for a proposed battery cell-manufacturing facility, possibly in New Carlisle, Indiana. Local officials in St. Joseph County granted the joint venture 10-year real property and 15-year personal property tax exemptions, according to The Detroit News. Subscribers can learn more from Industrial Info's project report.
LG Energy already is working with Honda Motor Company (NYSE:HMC) (Tokyo, Japan) to build a lithium-ion battery-manufacturing plant in Marysville, Ohio, which is expected to see between $3.5 billion and $4.4 billion of investment. Honda and LG Energy plan to establish a joint venture later this year and to begin construction on the project next year, with full production expected sometime in 2025. The plant is expected to have about 40 gigawatt-hours (GWh) of annual production capacity. Subscribers can learn more from Industrial Info's detailed project report.
Honda plans to begin producing and selling EVs in North America in 2026, with the Marysville plant providing EV batteries to its EV plants in Marysville and East Liberty, Ohio. An engine plant in Anna, Ohio, will manufacture cases to hold and support the battery cells within the EVs. Subscribers can read detailed profiles of the Marysville and East Liberty vehicle plants, and the Anna engine plant.
LG Energy already is supplying lithium-ion battery materials to LS Power Group's (New York, New York) 125-MW Le Conte Battery Energy Storage Plant in Calexico, California, which is nearing startup. LG Energy is working through its subsidiary NEC Energy, which it acquired from NEC Corporation (Tokyo, Japan) early this year. Subscribers can read more in a detailed project report.
"Global demand for standardized, fully integrated storage systems has experienced a significant and sustained growth as such systems reduce both capital equipment and site installation costs," LG Energy said in a press release announcing the NEC Energy acquisition. "The market is also looking to the world's leading battery suppliers to expand equipment and service offerings, recognizing that batteries comprise by far the most significant element of an energy storage system."
LG Chem and its subsidiaries recently signed material-supply agreements with three Canadian suppliers to shore up the North American EV supply chain. For more information, see September 22, 2022, article - LG Energy Signs Battery Material-Supply Agreements.
Another South Korean firm, SK Innovation Company Limited (Seoul), formed a 50:50 joint venture with Ford Motor Company (NYSE:F) (Dearborn, Michigan) earlier this year to build and operate EV battery plants in Tennessee and Kentucky. For more information, see July 18, 2022, article - Ford Finalizes U.S. EV Battery Joint Venture.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on EV battery projects in the U.S. and Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
General Motors Company (NYSE:GM) (GM) (Detroit, Michigan) upped the ante this week when it announced GM Energy, a subsidiary that will focus on "energy management services, and drive growth beyond the core vehicle portfolio." Much of the new business will cater to EV customers through battery-charging and storage products.
"The reliability of the U.S. electrical power grid has never been more important," said Travis Hester, the vice president of GM EV Growth Operations, in a press release announcing the development. "GM Energy has the opportunity to help deliver sustainable energy products and services that can help mitigate the effect of power outages and provide customers with resilient and cost-effective energy management."
Click on the image at right for a graph detailing the top 10 parent companies for EV battery projects in the U.S. and Canada.Two such projects under construction are spearheaded by Ultium Cells LLC, a joint venture between GM and LG Energy Solution Limited, a subsidiary of LG Chem Limited (Seoul, South Korea): a $2.6 billion battery cell-manufacturing facility in Lansing, Michigan, which is designed to supply battery cells to the Orion Assembly Plant, and a $2.3 billion battery plant in Spring Hill, Tennessee, which will supply the nearby Spring Hill Auto Assembly Plant.
The Orion and Spring Hill plants are developing GM's newest generation of EVs, which include the GMC Hummer EV, Cadillac Lyric and Cruise Origin. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed project reports on the Lansing and Spring Hill battery projects. Subscribers to Industrial Info's GMI Plant Database can read detailed profiles of the Orion and Spring Hill assembly plants.
In August, the U.S. Department of Energy (DOE) announced a conditional loan of $2.5 billion to Ultium Cells for the construction of battery-manufacturing facilities in Ohio, Tennessee and Michigan. For more information, see August 1, 2022, article - GM EV Battery Joint Venture to Receive $2.5 Billion DOE Loan.
Ultium Cells also is conducting site studies for a proposed battery cell-manufacturing facility, possibly in New Carlisle, Indiana. Local officials in St. Joseph County granted the joint venture 10-year real property and 15-year personal property tax exemptions, according to The Detroit News. Subscribers can learn more from Industrial Info's project report.
LG Energy already is working with Honda Motor Company (NYSE:HMC) (Tokyo, Japan) to build a lithium-ion battery-manufacturing plant in Marysville, Ohio, which is expected to see between $3.5 billion and $4.4 billion of investment. Honda and LG Energy plan to establish a joint venture later this year and to begin construction on the project next year, with full production expected sometime in 2025. The plant is expected to have about 40 gigawatt-hours (GWh) of annual production capacity. Subscribers can learn more from Industrial Info's detailed project report.
Honda plans to begin producing and selling EVs in North America in 2026, with the Marysville plant providing EV batteries to its EV plants in Marysville and East Liberty, Ohio. An engine plant in Anna, Ohio, will manufacture cases to hold and support the battery cells within the EVs. Subscribers can read detailed profiles of the Marysville and East Liberty vehicle plants, and the Anna engine plant.
LG Energy already is supplying lithium-ion battery materials to LS Power Group's (New York, New York) 125-MW Le Conte Battery Energy Storage Plant in Calexico, California, which is nearing startup. LG Energy is working through its subsidiary NEC Energy, which it acquired from NEC Corporation (Tokyo, Japan) early this year. Subscribers can read more in a detailed project report.
"Global demand for standardized, fully integrated storage systems has experienced a significant and sustained growth as such systems reduce both capital equipment and site installation costs," LG Energy said in a press release announcing the NEC Energy acquisition. "The market is also looking to the world's leading battery suppliers to expand equipment and service offerings, recognizing that batteries comprise by far the most significant element of an energy storage system."
LG Chem and its subsidiaries recently signed material-supply agreements with three Canadian suppliers to shore up the North American EV supply chain. For more information, see September 22, 2022, article - LG Energy Signs Battery Material-Supply Agreements.
Another South Korean firm, SK Innovation Company Limited (Seoul), formed a 50:50 joint venture with Ford Motor Company (NYSE:F) (Dearborn, Michigan) earlier this year to build and operate EV battery plants in Tennessee and Kentucky. For more information, see July 18, 2022, article - Ford Finalizes U.S. EV Battery Joint Venture.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on EV battery projects in the U.S. and Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
