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8 Newest Investments in North American Battery Manufacturing

Gallery-8 Newest Investments in North American Battery Manufacturing

Toyota Motor North America celebrates its Kentucky and North Carolina investment announcements.
New investments—from the biggest carmakers and battery makers to startups and suppliers—illustrate that the battery manufacturing industry is booming.

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.

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