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Major automakers invest billions in US battery plants for EV production.

1 min read
Source: Fox Business
Major automakers invest billions in US battery plants for EV production.
Photo: Fox Business
TL;DR

General Motors and Hyundai are investing $8 billion in new battery manufacturing plants in the US to meet local sourcing requirements for federal electric vehicle tax credits. GM is partnering with Samsung SDI on a $3 billion plant that will open in 2026, while Hyundai and SK On are building a $5 billion plant in Georgia that will begin operations in 2025. The new facilities will have a combined annual manufacturing capacity of 65 gigawatt-hours of cells, enough for approximately 1.3 million electric vehicles.

Topics:business#battery-plants#business#electric-vehicles#gm#hyundai#tax-credits
Share this article
  1. GM, Hyundai investing $8B in new US battery plants  Fox Business
  2. GM, Samsung plan new EV battery cell factory in US  WOODTV.com
  3. GM and Samsung SDI to invest $3 billion in U.S. battery plant  Automotive News
  4. GM and Samsung partner to build a new $3 billion battery cell factory in the US  Electrek.co
  5. Hyundai Motor bolsters US presence with $5 billion EV battery venture  Yahoo Finance

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