The Growing Number of EV Battery Projects in North America

The Future of the U.S. Electric Vehicle Industry: Home-Grown Battery Plants

Last summer, the Inflation Reduction Act became law, and it became evident that the success of the U.S. electric vehicle industry would rely heavily on domestic battery plants.

Designed to promote the manufacturing of EVs and batteries in the United States, the law includes strict sourcing requirements for vehicles to qualify for tax credits.

Battery Plant Investments on the Rise

In October, journalist John Irwin wrote about the surge of investments in battery plants following the implementation of the Inflation Reduction Act. Mujeeb Ijaz, CEO of Our Next Energy, expressed his satisfaction with the government’s focus on localizing the supply chain and making cell manufacturing a significant aspect of the law’s objectives.

The Act’s Impact Today

Fast-forward to the present, and the effects of the law are already apparent.

In this week’s issue of our Intelligence Report 2023, we explore 16 battery plant projects currently underway or about to commence in the United States and Canada. And there are likely more to come in the near future.

Don’t Miss Our Intelligence Report

If you haven’t already, make sure to catch up on the previous installments of this year’s Intelligence Report:

Part 1: An examination of the leading new ventures aiming to replicate Tesla’s startup success.

Part 2: The legacy and new suppliers competing for a share of the growing EV battery market.

Stay tuned for upcoming installments on the status of EV factories and robotaxi companies.