Caterpillar and Ultium Cells commit $1 billion each to US plants

Caterpillar plans a $1 billion manufacturing facility in Sanford, North Carolina, while Ultium Cells will invest $1 billion retooling its Tennessee battery plant for next-generation LMR cells.

Why it matters: Two billion dollars of US manufacturing capex in one week shows industrial firms still spending through the tariff era, with battery chemistry moving toward lower-cost domestic alternatives to LFP.

Data as of Investments announced September 30 - October 2, 2026; surfaced in October 7 RSS scan; not previously covered in this edition.

Caterpillar plans a new $1 billion manufacturing facility in Sanford, North Carolina, expected to create more than 1,950 jobs expanding production of compact track loaders and other compact construction equipment under its Cat Compact growth strategy.

Separately, Ultium Cells, the GM-LG Energy Solution joint venture, will invest $1 billion to retool its Spring Hill, Tennessee battery plant to mass-produce prismatic lithium manganese-rich (LMR) cells, becoming the first manufacturer worldwide to do so commercially. The LMR chemistry is designed to deliver 33 percent greater energy density than lithium iron phosphate at comparable cost, aimed at lower-cost electric trucks. Construction begins later this year with completion in 2028, adding 500 jobs to a 1,200-person workforce. Spring Hill has produced LFP cells for energy storage customers since June.

Caterpillar and Ultium Cells commit $1 billion each to US plants

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