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(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 (NASDAQ:TSLA) and Rivian, reportedly considering similar investments.
Here is a look at some of the announced LFP projects.
FORD
Ford Motor (NYSE:F) is planning to open a $3.5 billion LFP manufacturing plant in 2026 in Marshall, Michigan, using technology licensed from China’s CATL.
GM
General Motors (NYSE:GM) has announced a $3 billion LFP plant in Fort Wayne, Indiana, with partner Samsung (KS:005930) SDI, to open in 2026.
LG ENERGY SOLUTION
South Korea’s LGES 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 has announced a $2.4 billion project to make battery materials in Big Rapids, Michigan, starting in 2025.
FREYR
Norwegian battery startup Freyr 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 has announced it will build a $400 million battery materials plant near St Louis, Missouri, to open in 2024.
