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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":706,"relatedVideos":707},112472451046622,"e62b1d12-5de9-408e-a4ba-0c7170d0ea34","$15 billion US gigafactory push accelerates North American capacity growth","15-billion-us-gigafactory-push-accelerates-north-american-capacity-growth","article/15-billion-us-gigafactory-push-accelerates-north-american-capacity-growth",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":684,"featured":51,"reporter":685,"_editable":689,"component":690,"seo_title":543,"categories":691,"visibility":698,"author_company":49,"featured_image":699,"seo_description":684,"author_full_name":49,"author_job_title":49,"formattedDate":704,"formattedArticleDate":705},"dcaf4cd5-fc01-4691-81c9-cc9d1a62705a","2022-08-31 00:00",[550,553,556],{"slug":551,"name":552},"data-visualisation","Data Visualisation",{"slug":554,"name":555},"inflation-reduction-act","Inflation Reduction Act",{"slug":557,"name":558},"usa","USA",[560],{"slug":561,"name":562,"content":563},"matthew-bird","Matthew Bird",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Senior Editor - Supply Chains & Data Visualisation",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":570,"content":571},"doc",[572,579,584,599,604,609,614,621,626,631,634,639,644,649,654,659,664,669,674,679],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"A total of $15 billion could be invested into US gigafactories from announcements in the last two months, enough to build more than the entire current production capacity in the country, according to Benchmark.","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582],{"text":583,"type":578},"The announcements from Tesla supplier Panasonic, Honda and LG Energy Solution, as well as Toyota, could result in an additional 157 gigawatt-hours of annual production capacity by mid-decade, including a reported second Panasonic plant in the US, according to Benchmark.",{"type":573,"attrs":585,"content":586},{"textAlign":49},[587,589,597],{"text":588,"type":578},"That would increase total forecast US battery production capacity by 60% by 2025 compared to Benchmark’s previous forecast. It comes following the passing of the Inflation Reduction Act ",{"text":590,"type":578,"marks":591},"this month",[592],{"type":593,"attrs":594},"link",{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/can-the-us-meet-the-critical-mineral-requirements-of-the-climate-bill","url",{"text":598,"type":578},", which includes production tax credits for battery manufacturing in the US.",{"type":573,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":578},"“The recent surge in capacity commitments across the US is set to secure a much needed supply of cells for the many legacy and emergent automakers active in the North American market,” Evan Hartley, an analyst at Benchmark, said. “It’s a key step towards the region matching and exceeding European cell production capacity.”",{"type":573,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":578},"The announcements include a planned $4.4 billion plant from Honda and LG Energy Solution; Toyota’s $5.6 billion battery investment plan of which $2.5 billion investment would be dedicated for the US and the rest for Japan, as well as Panasonic’s plans for a plant in Kansas as well as an additional $4 billion for a battery plant in Oklahoma.",{"type":573,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":578},"Panasonic’s Oklahoma plant was reported by the Wall Street Journal last week.",{"type":615,"attrs":616,"content":618},"heading",{"level":617,"textAlign":49},4,[619],{"text":620,"type":578},"Boosting capacity ",{"type":573,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":578},"US gigafactory capacity is now expected to reach 108.8 GWh this year and rise to 536.5 GWh in 2025 when a bulk of the projects will come online, according to Benchmark’s Gigafactory Assessment. The forecast estimates this will rise to 940.6 GWh by 2031 following which the expansion pace is expected to ramp up at a slower pace over the next few years.",{"type":573,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":578},"Before the announcements a total of 345.5 Gwh capacity was expected in north America by 2025.",{"type":573,"attrs":632,"content":633},{"textAlign":49},[],{"type":615,"attrs":635,"content":636},{"level":617,"textAlign":49},[637],{"text":638,"type":578},"The Big Deals",{"type":573,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":578},"Honda and LG Energy’s $4.4 billion battery plant for electric vehicles is expected to begin mass production of lithium-ion battery cells by the end of 2025. The two companies will establish a joint venture this year to build and run the battery plant.",{"type":573,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":578},"“Our joint venture with Honda, which has a significant brand reputation, is yet another milestone in our mid- to long-term strategy of promoting electrification in the fast-growing North American market,” said Youngsoo Kwon, chief executive of LG Energy Solution.",{"type":573,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":578},"Honda and LG Energy are yet to disclose the location for the plant. Honda currently makes cars at manufacturing facilities in Ohio, Alabama and Indiana.",{"type":573,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":578},"Toyota said it would invest an additional $2.5 billion in its battery plant in North Carolina, which is set to start production in 2025 and produce battery cells for hybrid and pure electric vehicles.",{"type":573,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":578},"Toyota said it aims to increase its combined annual battery production capacity in Japan and the United States by as much as 40 GWh.",{"type":573,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":578},"Panasonic is reportedly planning to build another battery plant in the US that would take its total gigafactory investment to an estimated $8 billion. Panasonic said in July that it would build a gigafactory in Kansas to target growth in the US auto market.",{"type":573,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":578},"The Osaka-based battery producer is Tesla’s largest supplier due to its Nevada gigafactory, a joint venture with Tesla that has a capacity of 44 GWh, as assessed by Benchmark.",{"type":573,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":578},"Tesla has said it wants to produce 20 million electric vehicles by the end of the decade, as it aims to become a mass market auto producer.",{"type":573,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":578},"Panasonic said in June it wants to triple or quadruple its capacity in North America by 2029 as it looks to capture some of the growth in the US auto market outside of Tesla.","A total of $15 billion could be invested into US gigafactories from announcements in the last two months, enough to build more than the entire current production capacity in the country, according to Benchmark. The announcements from Tesla supplier Panasonic, Honda and LG Energy Solution, as well as Toyota, could result in an additional 157 […]",[686],{"slug":561,"name":562,"content":687},{"job_title":564,"image":688,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"dcaf4cd5-fc01-4691-81c9-cc9d1a62705a\", \"id\": \"\"}-->","article",[692,695],{"slug":693,"name":694},"batteries","Batteries",{"slug":696,"name":697},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":700,"name":700,"focus":700,"title":700,"source":700,"filename":701,"copyright":700,"fieldtype":702,"meta_data":703,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/4783b05917/bm-giga-nevada-2.jpg","asset",{"alt":700,"title":700,"source":700,"copyright":700},"Aug 31, 2022","31st August 2022",[],[],1781882629829]