Mississippi legislators approve incentives for a factory that would make EV batteries
11 months ago

Mississippi legislators approve incentives for a factory that would make EV batteries

Associated Press  

— Mississippi lawmakers on Thursday gave broad, bipartisan approval to state incentives for a factory that will manufacture batteries for electric vehicles — a project that promises 2,000 jobs with an average salary of about $66,000. The companies intend to invest about $1.9 billion for the plant in Marshall County, near the Tennessee state line, and it would be the second-largest corporate investment in Mississippi history, Reeves said. The U.S. Treasury Department must approve plans for the plant in Mississippi, said Republican Rep. Trey Lamar of Senatobia, chairman of the state House Ways and Means Committee. Georgia has offered lucrative tax incentives in an effort to become a Southern hub for EV manufacturing, and at a site near Savannah, Hyundai is building its first U.S. factory devoted solely to EV production.

China Electric Vehicles Republican Project State Invest Reeves Mississippi Plant  incentives  approve  plant  state  vehicles  batteries  reeves  ev  legislators  factory  invest  project  republican  jobs  mississippi

History of this topic

Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory that automaker paused
4 weeks ago

Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory that automaker paused

Associated Press  

ATLANTA — President Joe Biden’s administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable. “This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 …

Feds pump $2 billion into boosting U.S.-based EV manufacturing
5 months, 1 week ago

Feds pump $2 billion into boosting U.S.-based EV manufacturing

LA Times  

While Donald Trump dumps on electric vehicles and China becomes an “electric vehicle export behemoth,” the Biden administration aims to keep the budding EV industry in the United States alive and thriving. It’s questionable “how the politics is going to work if you have a new administration come in and not prioritize the EV push,” he said. Still, he expects …

Hyundai is rapidly building its first US electric vehicle plant, with production on track for 2025
1 year, 1 month ago

Hyundai is rapidly building its first US electric vehicle plant, with production on track for 2025

Associated Press  

ELLABELL, Ga. — The steel skeletons of buildings where Hyundai will stamp, weld, paint and assemble electric vehicles in Georgia span more than a half mile on a sprawling site dotted with so many cranes, bulldozers and construction workers that it almost looks like they’re building a small city. A year has passed since Hyundai Motor Group broke ground on …

Hyundai is rapidly building its first US electric vehicle plant, with production on track for 2025
1 year, 1 month ago

Hyundai is rapidly building its first US electric vehicle plant, with production on track for 2025

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. A year has passed since Hyundai Motor Group broke …

Hyundai rushing to open Georgia plant because of law rewarding domestic electric vehicle production
1 year, 3 months ago

Hyundai rushing to open Georgia plant because of law rewarding domestic electric vehicle production

Associated Press  

ATLANTA — A top Hyundai executive said Tuesday that the company is rushing to start electric vehicle and battery production as soon as possible at a $7.6 billion complex in coastal Georgia, spurred by federal electric vehicle incentives that reward domestic production. Still, the law is pushing Hyundai to make batteries and electric vehicles in the U.S. more quickly, Munoz …

Higher investment means Hyundai could get $2.1 billion in aid to make electric cars in Georgia
1 year, 3 months ago

Higher investment means Hyundai could get $2.1 billion in aid to make electric cars in Georgia

Associated Press  

SAVANNAH, Ga. — The state of Georgia and local governments are on track to give $2.1 billion in tax breaks and other incentives to Hyundai Motor Group after the South Korean automaker and a partner announced last month that it will invest an additional $2 billion at an electric vehicle complex it’s building in Georgia. The state projects it will …

Hyundai and LG will invest an additional $2B into making batteries at Georgia electric vehicle plant
1 year, 3 months ago

Hyundai and LG will invest an additional $2B into making batteries at Georgia electric vehicle plant

Associated Press  

SAVANNAH, Ga. — Hyundai Motor Group and LG Energy Solution said Thursday they will spend an additional $2 billion and hire an extra 400 workers to make batteries at the automaker’s sprawling U.S. electrical vehicle plant that’s under construction in Georgia. The additional investment and jobs announced Thursday doesn’t mean the Hyundai/ LG battery plant will produce more batteries, Hyundai …

Georgia governor attacks Biden’s electric vehicle policy at federally-backed battery material maker
1 year, 5 months ago

Georgia governor attacks Biden’s electric vehicle policy at federally-backed battery material maker

Associated Press  

ATLANTA — Georgia Gov. “Georgia’s electric mobility boom is taking place because our state is second to none for companies looking to invest, relocate, expand, and innovate – not because the federal government continues to put their thumb on the scale, favoring a few companies over the industry as a whole,” Kemp said, according to advance remarks of his speech …

Hyundai and LG announce $4.3 billion plant in Georgia to build batteries for electric vehicles
1 year, 6 months ago

Hyundai and LG announce $4.3 billion plant in Georgia to build batteries for electric vehicles

Associated Press  

ATLANTA — Hyundai Motor Group and LG Energy Solution announced Thursday they will build a $4.3 billion electric battery plant as part of Hyundai’s new electric vehicle assembly plant in southeast Georgia. Hyundai Motor Co. CEO Jaehoon Chang said in a statement that the battery plant would “create a strong foundation to lead the global EV transition,” explaining the company …

Hyundai Motors, LG Energy to setup $4.3 billion EV battery plant in US
1 year, 6 months ago

Hyundai Motors, LG Energy to setup $4.3 billion EV battery plant in US

Hindustan Times  

South Korea's Hyundai Motor Group and LG Energy Solution Ltd on Friday said they will build a $4.3 billion electric vehicle battery plant in the United States amid a push to take advantage of tax credits. In April, Hyundai Motor finalised a $5 billion EV battery joint venture in the United States with SK On. Hyundai Motor Group, the world's …

GM, Samsung plan new EV battery cell factory in US
1 year, 7 months ago

GM, Samsung plan new EV battery cell factory in US

Associated Press  

DETROIT — General Motors and South Korea’s Samsung SDI plan to invest more than $3 billion in a new electric vehicle battery cell plant in the United States, the companies said Tuesday. Samsung was picked as the partner for the fourth plant after some Chevrolet Bolt batteries made by LG caught fire, forcing GM to recall about 142,000 vehicles due …

Michigan committee gives $175 million for EV battery plant
1 year, 8 months ago

Michigan committee gives $175 million for EV battery plant

Associated Press  

LANSING, Mich. — A Michigan Senate committee gave final legislative approval to allocate $175 million in state funds to a factory planned by Chinese manufacturer Gotion in northern Michigan that proponents say will create thousands of jobs and be a boon for the local economy. The funds were approved in a narrow vote Thursday by the Senate Appropriations committee after …

US tax breaks lure European clean tech companies as EU lags
1 year, 8 months ago

US tax breaks lure European clean tech companies as EU lags

Associated Press  

LONDON — Norwegian startup Freyr will first build batteries to power electric vehicles and store clean energy in a remote town near the Arctic Circle. That’s because a new U.S. clean energy law offers generous tax credits — up to 40% of costs — in what is a “massive, massive incentive” for producing in America, CEO Tom Einar Jensen said. …

‘War of the states': EV, chip makers lavished with subsidies
1 year, 8 months ago

‘War of the states': EV, chip makers lavished with subsidies

Associated Press  

HARRISBURG, Pa. — States are doling out more cash than ever to lure multibillion-dollar microchip, electric vehicle and battery factories, inspiring ever-more competition as they dig deeper into their pockets to attract big employers and capitalize on a wave of huge new projects. “That’s how competitive economic development is between the states in 2023.” The projects come at a transformative …

South Carolina offers $1.3B to new Scout electric SUV maker
1 year, 9 months ago

South Carolina offers $1.3B to new Scout electric SUV maker

Associated Press  

COLUMBIA, S.C. — South Carolina’s governor said Monday he is going to ask lawmakers to approve nearly $1.3 billion to bring to the state a new electric vehicle plant by a Volkswagen Group-backed group trying to revive a brand that was a 1960s forerunner to today’s SUVs. Scout Motors Inc. and South Carolina officials announced plans to start building new …

Mississippi passes bill restricting electric car dealerships
1 year, 9 months ago

Mississippi passes bill restricting electric car dealerships

Associated Press  

— The Mississippi Senate gave final approval Thursday to a bill to restrict electric car manufacturers from opening new brick-and-mortar dealerships in the state unless they comply with the same laws traditional carmakers follow. Opponents said it would betray conservative principles by setting a government policy that interferes with the automobile market and would stop electric carmakers from bringing new …

Korean firms plan $4 billion-plus battery plant in Georgia
2 years ago

Korean firms plan $4 billion-plus battery plant in Georgia

Associated Press  

ATLANTA — Hyundai Motor Group and a South Korean battery maker say they will jointly invest $4 billion to $5 billion in Georgia to build a new plant northwest of Atlanta that would supply electric batteries for Hyundai and Kia electric vehicles assembled in the United States. The investment is also being driven by the U.S. Inflation Reduction Act, which …

US awards $2.8B in grants for EV batteries in 12 states
2 years, 2 months ago

US awards $2.8B in grants for EV batteries in 12 states

Associated Press  

WASHINGTON — The Biden administration on Wednesday awarded $2.8 billion in grants to boost domestic manufacturing of batteries for electric vehicles in 12 states. The announcement came as the administration seeks to boost production and sales of electric vehicles as a key part of President Joe Biden’s strategy to slow climate change and build up U.S. manufacturing. “This is critically …

BMW investing $1.7B in S Carolina as automaker shifts to EVs
2 years, 2 months ago

BMW investing $1.7B in S Carolina as automaker shifts to EVs

Associated Press  

GREER, S.C. — BMW will invest $1 billion in its sprawling factory near Spartanburg, South Carolina, to start producing electric vehicles and an additional $700 million to build a electric-battery plant nearby. “We are anticipating the growing demand for electric vehicles not only in the United States but around the world,” Oliver Zipse, the company chairman, said Wednesday at the …

Michigan board approves $400 million to advance EV batteries
2 years, 2 months ago

Michigan board approves $400 million to advance EV batteries

Associated Press  

LANSING, Mich. — A Michigan economic development board approved more than $400 million in state incentives Wednesday for two battery factories estimated to cost $4 billion and bring 4,500 jobs to the state. A Michigan energy-storage company, Our Next Energy, would be allocated $236 million in the agreement for an up to $1.6 billion project in Van Buren Township outside …

Hyundai, Kia’s EV dreams in US shattered by Biden’s new policy
2 years, 3 months ago

Hyundai, Kia’s EV dreams in US shattered by Biden’s new policy

Live Mint  

Hyundai Motor and Kia are the manufacturers that stand to suffer the most from new regulations that stop subsidies for EVs built outside of North America after climbing to No. However, because Hyundai Motor and its affiliate Kia are not yet producing EVs in North America, the Inflation Reduction Act, which US President Joe Biden signed into law in August, …

Hyundai gets $1.8 billion aid to produce 3 lakh electric vehicles in 2025
2 years, 5 months ago

Hyundai gets $1.8 billion aid to produce 3 lakh electric vehicles in 2025

Hindustan Times  

The state of Georgia and local governments are giving $1.8 billion in tax breaks and other incentives to Hyundai Motor Group in exchange for the automaker building its first U.S. plant dedicated to electric vehicles near Savannah, according to the signed agreement disclosed Friday. The $1.8 billion in incentives is easily the largest subsidy package a U.S. state has ever …

Hyundai gets $1.8B in aid to build electric cars in Georgia
2 years, 5 months ago

Hyundai gets $1.8B in aid to build electric cars in Georgia

Associated Press  

SAVANNAH, Ga. — The state of Georgia and local governments are giving $1.8 billion in tax breaks and other incentives to Hyundai Motor Group in exchange for the automaker building its first U.S. plant dedicated to electric vehicles near Savannah, according to the signed agreement disclosed Friday. It’s the largest economic development deal in the state’s history and comes just …

Hyundai announces $5.5B electric vehicle plant in Georgia
2 years, 7 months ago

Hyundai announces $5.5B electric vehicle plant in Georgia

Associated Press  

ELLABELL, Ga. — Hyundai Motor Group confirmed Friday the company will spend $5.5 billion on a huge electric vehicle plant near Savannah that will employ thousands — a deal Georgia’s governor called the largest economic development project in the state’s history. It will be Hyundai’s first U.S. plant dedicated to assembling electric vehicles and will also produce vehicle batteries. In …

GM to spend $6.5B, add 4,000 jobs at Michigan EV factories
2 years, 11 months ago

GM to spend $6.5B, add 4,000 jobs at Michigan EV factories

Associated Press  

LANSING, Mich. — General Motors is poised to announce next week major electric-vehicle investments in Michigan, with plans to spend $6.5 billion and create up to 4,000 new jobs at two plants. GM also plans to spend $4 billion and create up to 2,300 new jobs by designating an existing plant in Orion Township as its third electric-vehicle factory, along …

Sources: Rivian to build $5B electric truck plant in Georgia
3 years ago

Sources: Rivian to build $5B electric truck plant in Georgia

Associated Press  

ATLANTA — Electric vehicle maker Rivian Automotive will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press. Rivian, based in Irvine, California, is a startup manufacturer of electric trucks and commercial delivery vans, challenging both established automakers like Ford …

Michigan House OKs incentives to land major business deals
3 years ago

Michigan House OKs incentives to land major business deals

Associated Press  

LANSING, Mich. — Michigan would create new economic development funds to help the state land major business expansions, including possible electric vehicle and battery plants, under fast-tracked bills that received initial approval Wednesday. Wendy Block, vice president of business advocacy and member engagement for the Michigan Chamber of Commerce, said unspecified companies could announce “transformational” and “generational” projects as soon …

Discover Related