Major projects include Panasonic’s $4 billion battery plant in Kansas, which is slated to be one of the largest lithium-ion battery factories in the world, and Hyundai’s $5.5 billion EV and battery manufacturing facility in Georgia.
So far, car companies and suppliers have announced more than $38 billion in investment through 2026 to boost battery production in the U.S., according to AlixPartners. The Inflation Reduction Act passed by Congress this month intends to turbocharge the growth by providing manufacturers with $40 billion in tax credits and requiring that EVs eligible for tax credits be made with more American-made parts. Spurred by inflation, geopolitical conflict and volatile supply for materials, global automakers have begun large-scale efforts to move operations to the U.S. The 2023 Mercedes-Benz EQS SUV will be made at the automaker’s plant in Tuscaloosa, Alabama, using batteries supplied by a battery factory it opened nearby in Bibb County in April. market on Thursday, fronting a movement expected to bring auto manufacturing onshore over the next decade. Mercedes-Benz began production of its first battery-electric SUV for the U.S.