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Released December 10, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. manufacturing of automobiles and related components is stepping back from fully electric vehicles (EVs), as the market expects brighter near-term results for hybrids. Nonetheless, the domestic market for both EV and hybrid batteries remains strong. Industrial Info is tracking about $7.5 billion worth of U.S. auto-manufacturing projects set to kick off in the first quarter of 2025, more than $5.4 billion of which is attributed to plant expansions and upgrades.
Click on the image at right for a graph detailing the top 10 parent companies for U.S. auto-manufacturing projects set to begin construction from January through March.
Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) leads all other auto and auto-part manufacturers in first-quarter kickoffs, with two major projects set to begin at factories that assemble some of the company's most popular truck and sports utility vehicle (SUV) models: a $1.4 billion upgrade to its plant in Princeton, Indiana, and a $531.7 million expansion of its plant in San Antonio, Texas. The plants currently produce about 420,000 and 236,660 units per year, respectively.
Toyota is enjoying strong sales for its RAV4 SUV model, which surpassed the Honda CR-V and the Ram 1500 as one of the three top-selling vehicles in the U.S. for the third quarter, according to Kelly Blue Book. The Princeton plant produces Toyota's Highlander SUVs, including a hybrid model, while the San Antonio plant produces the Tundra, Tundra Hybrid and Sequoia Hybrid models. Subscribes to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can learn more from detailed reports on the Princeton and San Antonio projects.
Hiroyuki Ueda, the chief officer of Toyota's Corporate Communications Group, said in a recent earnings-related conference call that the company's hybrid business "is an area [where] we have to do a better job of managing inventory. The inventory level is about half of that of conventional cars, and our customers have to wait for the delivery. But it means that our hybrid cars are extremely popular, and the profitability level of hybrid vehicles is greater than that of conventional cars."
Toyota is among several big-name auto manufacturers that recently have de-emphasized their production of EVs in favor of hybrids, amid sluggish EV sales. Ford Motor Company (NYSE:F) (Dearborn, Michigan) now plans to leverage hybrid technologies for its next three-row SUVs, instead of fully electric technologies as it previously had planned. For more information, see August 23, 2024, article - Ford Becomes Latest Automaker to Scale Back EV Production.
Weakening EV sales haven't dissuaded battery maker Solid Power Incorporated (Louisville, Colorado) from seeking a $25 million addition to its EV battery-cell plant in Thornton, Colorado. Solid Power hopes to increase its output of solid-state EV battery cells from 30 to 75 metric tons per year through a new, full-scale production line. According to The Colorado Sun, the company hopes to reach 140 tons per year by 2028.
Solid Power says its solid-state batteries offer more driving range than traditional lithium-ion batteries, which it says could address the "range anxiety" that keeps many consumers from buying EVs. Earlier this year, the company received a $50 million federal grant to ramp up its production of solid-state batteries. Subscribers can learn more about the Thornton development in a detailed project report.
In the market for more traditional auto parts, Trelleborg AB (Trelleborg, Sweden) is preparing to build a $28.4 million rubber-coated parts plant in Forest City, North Carolina, while Toyoda Gosei Company Limited (Aichi, Japan) is lining up a $38.9 million expansion of its plastic fuel-filler pipe plant in Lebanon, Kentucky. Subscribers can learn more from detailed reports on the Forest City and Lebanon projects.
Subscribers to Industrial Info's GMI Project and Plant databases 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 for U.S. auto-manufacturing projects set to kick off in the first quarter of 2025.
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).
Click on the image at right for a graph detailing the top 10 parent companies for U.S. auto-manufacturing projects set to begin construction from January through March.Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) leads all other auto and auto-part manufacturers in first-quarter kickoffs, with two major projects set to begin at factories that assemble some of the company's most popular truck and sports utility vehicle (SUV) models: a $1.4 billion upgrade to its plant in Princeton, Indiana, and a $531.7 million expansion of its plant in San Antonio, Texas. The plants currently produce about 420,000 and 236,660 units per year, respectively.
Toyota is enjoying strong sales for its RAV4 SUV model, which surpassed the Honda CR-V and the Ram 1500 as one of the three top-selling vehicles in the U.S. for the third quarter, according to Kelly Blue Book. The Princeton plant produces Toyota's Highlander SUVs, including a hybrid model, while the San Antonio plant produces the Tundra, Tundra Hybrid and Sequoia Hybrid models. Subscribes to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can learn more from detailed reports on the Princeton and San Antonio projects.
Hiroyuki Ueda, the chief officer of Toyota's Corporate Communications Group, said in a recent earnings-related conference call that the company's hybrid business "is an area [where] we have to do a better job of managing inventory. The inventory level is about half of that of conventional cars, and our customers have to wait for the delivery. But it means that our hybrid cars are extremely popular, and the profitability level of hybrid vehicles is greater than that of conventional cars."
Toyota is among several big-name auto manufacturers that recently have de-emphasized their production of EVs in favor of hybrids, amid sluggish EV sales. Ford Motor Company (NYSE:F) (Dearborn, Michigan) now plans to leverage hybrid technologies for its next three-row SUVs, instead of fully electric technologies as it previously had planned. For more information, see August 23, 2024, article - Ford Becomes Latest Automaker to Scale Back EV Production.
Weakening EV sales haven't dissuaded battery maker Solid Power Incorporated (Louisville, Colorado) from seeking a $25 million addition to its EV battery-cell plant in Thornton, Colorado. Solid Power hopes to increase its output of solid-state EV battery cells from 30 to 75 metric tons per year through a new, full-scale production line. According to The Colorado Sun, the company hopes to reach 140 tons per year by 2028.
Solid Power says its solid-state batteries offer more driving range than traditional lithium-ion batteries, which it says could address the "range anxiety" that keeps many consumers from buying EVs. Earlier this year, the company received a $50 million federal grant to ramp up its production of solid-state batteries. Subscribers can learn more about the Thornton development in a detailed project report.
In the market for more traditional auto parts, Trelleborg AB (Trelleborg, Sweden) is preparing to build a $28.4 million rubber-coated parts plant in Forest City, North Carolina, while Toyoda Gosei Company Limited (Aichi, Japan) is lining up a $38.9 million expansion of its plastic fuel-filler pipe plant in Lebanon, Kentucky. Subscribers can learn more from detailed reports on the Forest City and Lebanon projects.
Subscribers to Industrial Info's GMI Project and Plant databases 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 for U.S. auto-manufacturing projects set to kick off in the first quarter of 2025.
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).
