Automakers Invest Billions in North American EV and Battery Manufacturing Facilities

Written by Julia Bush , Industry Analyst at Center for Automotive Research

Automaker investment in battery and Electric Vehicle (EV) manufacturing in North America is on the rise. For nearly two decades, the CAR Automotive Communities Partnership (ACP) has tracked announced automotive manufacturing investments In North America.?The ACP Book of Deals investment database illustrates the extent of the sector’s commitment to the transformation. According to data collected for the Book of Deals, in 2021, automakers announced $36 billion of investments to build facilities dedicated to manufacturing EVs and batteries. In the first five months of 2022, automakers announced $24 billion in EV-related investments, almost double the investments announced by the same time last year. Recent automaker announcements on EV and battery manufacturing investments demonstrate an acceleration of growth in the EV market driven by new government EV targets and increasing consumer demand.

Figure 1: Announced Automaker Related Investments in NA (EV, Battery, and other)

Earlier this year, General Motors announced it would spend $4 billion to expand its Orion Assembly Plant in Michigan to build EVs and an additional $2.6 billion to build a battery manufacturing facility also in Michigan. In 2021, Ford announced plans to invest $11.4 billion to build Blue Oval City and Blue Oval SK Battery Park in Tennessee and Kentucky, respectively. Hyundai recently said it plans to spend $5.5 billion to build facilities dedicated to manufacturing EVs and batteries in Savannah, Georgia, making it the automaker’s first EV-only plant in the United States. Stellantis and Samsung SDI announced they would invest more than $2.5 billion and create 1,400 jobs at a planned EV battery plant in Kokomo, Indiana. Stellantis and LG Energy Solution also announced a $4 billion investment to build an EV battery plant in Windsor, Ontario.

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