Automaker Stellantis NV announced it would double down on plans to make electric vehicle batteries and open more plants in North America. At an event in Detroit, a spokesman said the company would need two more EV battery plants to meet demand. These two plants are in addition to ones in Indiana and Canada. The company expects all the production sites to be in the U.S., Canada or Mexico. The first two are scheduled to open in 2025.
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“We are already in discussions for plant number three and possibly plant number four. We will need four plants by 2030,” Mark Stewart, the company’s chief operating officer for North America.
The first of Stellantis’ battery plants in North America is in Indiana. The plant is a joint venture with South Korea’s Samsung SDI. South Korea’s LG Energy Solution will build the plant in Canada. Partners for the two additional plants are up for discussion, Stewart said.
One of the possible sites for the third plant is Michigan, Detroit News reported Monday. Stewart said Michigan will be a part of those discussions, including for a third plant that would open in 2026 or 2027. The state has one other battery plant operated by rival automaker, General Motors,
The company expects up to 53% of its sales in the U.S. to be all-electric by 2030 with 25 battery-electric options.
The United States is fast becoming a lithium-ion battery production hotspot after President Joe Biden’s policy push for infrastructure investments. The administration has passed a few landmark investments to support the transition from internal combustion engines to EVs. Those include the bipartisan Infrastructure Law of November 2021 and the recently passed CHIPS and Science Act and Inflation Reduction Act, from August. The new regulation will spur around U.S. $520 billion for modernization of the public transport, investments in national EV charging infrastructure.
Honda Motor also recently announced its plans to build a battery plant in the U.S. The Japanese carmaker and LGES last week said that the $3.5 billion plant will be located in Ohio. The company expects to begin construction of the new facility in early 2023, followed by mass production of lithium-ion batteries by the end of 2025.
LG Chem subsidiary LGES also announced joint ventures to build plants in the U.S. with GM and Hyundai Motor. GM and LGES are building a $2.6 billion plant in Michigan, set to open in late 2024. The construction of the Hyundai and LGES $5.5 billion plant will be taking place in Bryan County in Georgia.
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