Nissan estimates that it will spend about $1 billion to construct a new facility that builds electric vehicles in the US, according to just-auto.com’s interview with a Nissan executive. The US government loan, which was granted in June, will cover the costs.
Initial estimates have tagged the facility to cost about 50 billion yen or $516.4 million, which Nissan said was likely to get doubled. According further to the Japanese manufacturer, the Tennessee facility will have three production modules. Each module, which costs $350 million to build, expects a production capacity of about 54,000 battery units per year. Nissan said that it will get a $1.6 billion grant from the US government to produce batteries and cars in Smyrna.
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