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New York (CNN Business)The auto industry's building boom for the massive batteries needed to power electric vehicles continues.

Automaker Stellantis, formed by last year's merger of Fiat Chrysler and French automaker PSA Group, and South Korean battery maker LG Energy Solution announced Monday they are partnering to produce lithium-ion batteries for the North American market.
The companies said in a news release that they plan to build a new facility with a yearly production capacity of 40 gigawatt hours. While the facility's location is still under review, the companies said they plan to break ground in the second quarter of 2022. Production is set to begin by 2024.
    The batteries it produces will go to Stellantis plants throughout North America for electric vehicles.
      "Today's announcement is further proof that we are deploying our aggressive electrification road map and are following through on the commitments we made during our EV Day event in July," said Stellantis CEO Carlos Tavares.Read MoreStellantis rivals General Motors and Ford are already in the process of building their own EV battery plants. GM (GM) has two joint venture plants with LG units under construction, one in Lordstown, Ohio, which is expected to start production of batteries early next year, and another adjacent to an existing GM assembly plant in Spring Hill, Tennessee. Each plant is expected to cost $2.3 billion.LG was the maker of the battery used in GM's Chevrolet Bolt, which have caused fires, which in turn prompted a costly recall of almost all the Bolts sold since their 2016 debut. Those batteries were built in South Korea. LG has agreed to pay GM about $1.9 billion of the $2 billion cost of that recall.Last month Ford (F) has announced plans for battery plants in Kentucky and Tennessee with LG rival SK Innovations, along with new assembly plants for electric vehicles. Together the new plants will cost $11 billion.Automakers are ramping up production plans for electric vehicles, both to meet increasingly tougher environmental regulations as well as increasing demand among car buyers. Electric cars have less moving parts than gas-powered vehicles and therefore can be cheaper to build due to the reduced hours of labor that goes into assembling them. Much of the construction of electric vehicle will entail building the batteries themselves.The fact that the automakers are creating joint ventures with other companies means the workers in the battery plants will not necessarily be represented by the United Auto Workers union, a fact that has concerned the union, which is worried about the loss of jobs the shift to electric vehicles might cause.There is a need for new battery plants with looming shortage of the batteries needed to power the cars. The lack of inventory could put upward pressure on battery prices, and keep the cost of EVs higher than traditional gasoline cars in the near term.Ford making its biggest single manufacturing investment ever to build electric vehicle factoriesEven with its own battery plant in Nevada, electric car leader Tesla (TSLA) said it needs more batteries from suppliers, and has also said that a lack of batteries is the reason it has yet to come out with an electric semi-tractor truck, which will need five times as many batteries as a typical EV.Back in July, Stellantis announced "plans to invest more than €30 billion through 2025 in electrification and software." It said at the time that it was planning for 70% of its sales in Europe and 40% of sales in the United States to be either fully electric or plug-in hybrid (but with a large majority of those vehicles being fully electric) within four years.
        LG previously supplied the battery-pack system for the Chrysler Pacifica Hybrid minivan, according to Monday's news release.- CNN Business' Peter Valdes-Dapena contributed to this report

        News Source: CNN

        Tags: for electric vehicles the companies said the companies said fully electric is expected assembly plant north america the batteries battery plant the batteries they plan building cnn business electric car batteries news release the battery plants

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        Mexico, Canada Claim Democrats Budget Bill Violates Trade Agreement

        Mexico doubled down on its criticism of the Democrats’ Build Back Better Act, arguing that a provision favoring U.S. automakers violates the recently-signed United States-Mexico-Canada Agreement (USMCA).

        Both the Mexican and Canadian governments have fought against the Democrats’ proposal which would include the largest tax credits for American, union-made electric vehicles, according to The Hill. The legislation, which passed the House and is pending Senate approval, would give consumers a $12,500 tax credit when they purchase an electric vehicle made in the U.S. with union labor, $4,500 more than the credit for non-union and foreign electric cars.

        “I think it’s very legitimate that we search for a way to move toward electric vehicles and toward electromobility,” Mexican Undersecretary for Foreign Trade Luz María de la Mora told The Hill. “That issue is not up for discussion, it’s not being questioned that the industry is moving in that direction.”

        “If it’s done using fiscal incentives, we also don’t disagree,” de la Mora continued. “What we do disagree with, that worries us, is that these fiscal incentives are conditional on the vehicles being produced in the United States.” (RELATED: Big Oil CEOs Thumb Nose At Green Energy Transition, Say Fossil Fuels Still Have ‘Essential Role’)

        De la Mora compared the tax credits to the 25% tariffs that former President Donald Trump threatened Mexico with as border crossings increased, The Hill reported. Shortly before the tariffs were set to go into effect, though, the two sides came to an agreement and the U.S. suspended the levies.

        President Joe Biden, Canadian Prime Minister Justin Trudeau and Mexican President Andres Manuel Lopez Obrador walk together at the White House on Nov. 18. (Alex Wong/Getty Images)

        Mexican Economy Minister Tatiana Clouthier recently said she is reviewing the “discriminatory” tax credit and that Mexico could possibly retaliate with tariffs, Reuters reported. She, like de la Mora, said the credit would violate the USMCA.

        Mexican Automotive Industry Association Director-General Fausto Cuevas warned that the brewing trade war wouldn’t help either side, according to Reuters.

        “This would lead us to a trade war,” Cuevas said, Reuters reported. “That does not benefit what we are really looking for, which is the regional integration of the industry.”

        Canadian Prime Minister Justin Trudeau, meanwhile, communicated his problems with the provision directly to President Joe Biden during a White House summit on Nov. 18, according to Politico. Trudeau’s deputy, Chrystia Freeland, said the Canadian government is “certain” the current language would violate the USMCA.

        “We underlined to what point this would be a big problem for auto production in Canada,” Trudeau said at a news conference following the summit, Politico reported. “We very clearly underlined our position.”

        However, the U.S. Trade Representative’s office stood by the legislation, Reuters reported.

        The USMCA, which went into effect in 2020, was negotiated by the Trump administration as a replacement for the North American Free Trade Agreement. It established fresh rules on trade and tariffs between the three North American nations.

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