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Consumer Products

Toyota and Stellantis will build US battery plants

by Matt Blois
October 23, 2021 | A version of this story appeared in Volume 99, Issue 39


The automakers Toyota and Stellantis have both announced plans to establish North American plants for electric vehicle batteries. Over the next decade, Toyota will invest $1.3 billion to build a US battery plant, which should start production by 2025. The company also pledged to spend $3.4 billion in the US on equipment, staff training, and other expenses related to development of electric vehicle batteries. Stellantis, which ownsChrysler, will partner with LG Energy Solution to establish a battery facility with a capacity of 40 GW h. The plant should come on line in early 2024. Stellantis plans to invest a total of nearly $35 billion in electrification through 2025, but it isn’t specifying the cost of the new plant. The announcements by the automakers follow commitments from other carmakers in the US. In September, Ford and SK Innovation announced that they will spend $11.4 billion to build battery plants in Tennessee and Kentucky. In April, General Motors and LGannounced a $2.3 billion investment for their ownnew battery plant in Tennessee.


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