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FACTBOX: As electric cars take off, makers pledge $14.3 billion for US lithium iron phosphate


These translations are done via Google Translate
A car is plugged in at a charging point for electric vehicles in London
A car is plugged in at a charging point for electric vehicles in London, Britain, March 6, 2018. REUTERS/Simon Dawson/FILE PHOTO

June 22 (Reuters) – Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. LFP is a lower-cost competitor to nickel cobalt manganese cells.

Seven companies have committed more than $14 billion in future LFP manufacturing facilities in the U.S., with others, including Tesla (TSLA.O) and Rivian (RIVN.O), reportedly considering similar investments.

Here is a look at some of the announced LFP projects.

FORD

Ford Motor (F.N) is planning to open a $3.5 billion LFP manufacturing plant in 2026 in Marshall, Michigan, using technology licensed from China’s CATL (300750.SZ).

GM

General Motors (GM.N) has announced a $3 billion LFP plant in Fort Wayne, Indiana, with partner Samsung SDI (006400.KS), to open in 2026.

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GLJ

LG ENERGY SOLUTION

South Korea’s LGES (373220.KS) plans to add LFP production later this year to its Holland, Michigan, battery cell plant as part of a $1.7 billion expansion.

GOTION

Chinese battery maker Gotion (002074.SZ) has announced a $2.4 billion project to make battery materials in Big Rapids, Michigan, starting in 2025.

FREYR

Norwegian battery startup Freyr (7XN.F) expects to open a $1.7 billion battery plant outside Atlanta, using technology from Aleees and 24M. It has not specified a start date.

OUR NEXT ENERGY

Michigan startup ONE plans to start pilot production of battery cells late this year at a $1.6 billion plant in Van Buren Township.

ICL

Israel’s ICL Group (ICL.TA) has announced it will build a $400 million battery materials plant near St Louis, Missouri, to open in 2024.



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