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June 12, 2023
Toyota Motor North America celebrates its Kentucky and North Carolina investment announcements.Image courtesy of Toyota
As the world is undergoing a significant increase in environmental consciousness, battery technology has emerged as a critical enabler for a more sustainable future. Now, with the demand for electric vehicles (EVs) and renewable energy storage continuing to soar, the need for more abundant and affordable batteries has become more pressing than ever.
One major reason for this sudden boom in investment is that global governments and organizations have begun seriously committing themselves to the reduction of carbon emissions. The main path forward is transitioning from fossil fuels to renewable energy sources. To this end, battery technology plays a pivotal role by enabling the storage of renewable energy generated from sources like wind and solar power.
Recognizing the immense demand for batteries, global investors have recently funneled unprecedented amounts of capital into battery manufacturing, driving a surge of innovation and reshaping the landscape of the energy storage industry. Because of the incentives outlined in the US Inflation Reduction Act and the Infrastructure Act, both signed into law last year, more of that capital than ever is coming to North America.
All of this excitement and momentum has come to a head in recent months, where the industry has seen significant investment in North American battery manufacturing. As reported here just last week, North America had become the fastest-growing regional market for planned new battery cell manufacturing plants, according to the latest Clean Energy Associates (CEA) latest Energy Storage System Supplier Market Intelligence Program (SMIP) report.
Today we offer the most recent examples of that fast growth. In this piece, we’ll look at some of the most noteworthy recent investments in battery manufacturing and the details surrounding them to get a better understanding of the state of the industry. Read on to learn about eight recent investments in North American battery manufacturing.
About the Author(s)
Jake Hertz is an Electrical Engineer, Technical Writer, and Public Relations Specialist. After he received his M.S. and B.S. in Electrical and Computer Engineering from the University of Rochester, he spent three years working as an Electrical Engineer at MakerBot Industries.
As a writer, Jake is well known for his frequent contributions to various engineering websites, where he has garnered readership in the tens of thousands. Through his business, NanoHertz Solutions, Jake works with cutting-edge companies in the hardware and semiconductor space to build industry buzz and awareness through Public Relations and Technical Writing services.
As an engineer, Jake now works with numerous startups to help develop their hardware products. He is also a Co-Founder of Origin Labs, a NYC-based design firm for tech startups in the hardware space.
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