Mobility investments target EV cost reductions

Caterpillar and GM's Ultium Cells each invested $1 billion in manufacturing facilities to scale battery production for electric vehicles, aiming to lower costs through advanced manufacturing.

Caterpillar invested $1 billion in a North Carolina facility to produce construction equipment using automation and digital systems. Ultium Cells (a GM-LG joint venture) reconfigured $1 billion in Tennessee battery cell operations to manufacture lithium manganese-rich prismatic cells with 33% greater energy density than lithium iron phosphate at comparable cost. This reconfiguration—scheduled to complete in 2028—will be the first commercial production of this battery type. Both projects target reducing electric vehicle costs through scaled, efficient manufacturing. Caterpillar disclosed no job creation details for its facility. Ultium Cells' reconfiguration work begins later in 2026, per the publication date context. The source provides no production start date after reconfiguration completion for Ultium Cells, though the facility is expected to begin operations in 2028. These investments advance clean transportation access by lowering EV production costs without guaranteeing immediate affordability for all users.

Source: Construction Dive