Article By Jordan Brinn and Dr. Simon Mui,
www.nrdc.org
The United States is the top nation for attracting investments in electric vehicle (EV) and battery manufacturing, surpassing announced investments in China and other countries globally. Companies have announced $312 billion in planned investments in the United States, up from about $75 billion when President Joe Biden took office in 2021, according to an NRDC-commissioned report and dashboard by researchers at Atlas Public Policy.
Of the $312 billion of planned investments targeted for the United States, $223 billion has been allocated to specific facilities or initiatives; this is up nearly $66 billion since January 2023, demonstrating that companies are turning their earlier commitments into on-the-ground investments. More than half of that investment—$133 billion—is slated for battery manufacturing and recycling; 32 percent, or about $70 billion, is allocated for EV manufacturing; and $21 billion is directed toward facilities producing components further down the supply chain, such as EV parts and critical minerals.
After years in which China dominated EV manufacturing, the latest data is showing a dramatic turnabout: The United States took the lead over China to be the top destination for these investments in 2022, just as the Inflation Reduction Act (IRA) became law.
In fact, the United States is now attracting nearly a quarter of all announced global EV investments. Prior research by Atlas and BlueGreen Alliance showed that there are now 484 active or planned facilities across 40 states with Georgia, Michigan, Nevada, North Carolina, and Tennessee being the top states benefiting from EV investment.
Learn more at: https://www.nrdc.org/bio/jordan-brinn/united-states-now-global-leader-attracting-ev-investments
