Even to EV Battery Industry?
The U.S. government recently announced details as to subsidy qualifications related to the CHIPS and Science Act. According to it, subsidies will be given in exchange for manufacturing process opening and extra profit sharing.
Both Samsung Electronics and SK Hynix are already being affected by the act and LG Energy Solution, SK On and Samsung SDI are also watching closely as the EV battery industry is likely to be its next target following semiconductor.
The three battery manufacturers have increased their investments in the U.S. market. For example, LG Energy Solution is building three plants in North America together with GM in order to supply at least two million high-performance batteries a year starting from 2025. SK On and Ford are building a plant in Tennessee and the plant with an annual capacity of 1.2 million batteries will be put into operation in 2025. Samsung SDI and Stellantis North America are building their plant in Indiana.
According to experts, U.S. nationalism is likely to emerge fast as the U.S. EV battery industry develops based on those partnerships. “In fact, the United States already revealed it when Ford and CATL announced their cooperation for plant construction in the United States,” one of them said.