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EV Demand Leads $8 Billion in 4Q U.S. Automotive Kickoffs

EV Demand Leads $8 Billion in 4Q U.S. Automotive Kickoffs

October 18, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--As demand for electric vehicles (EV) continues its upward trend, both foreign and domestic automotive manufacturers are boosting their related investments in the U.S. by building manufacturing plants and expanding existing ones. Industrial Info is tracking $8 billion worth of active automotive projects in the U.S. that are planned to begin construction as currently scheduled in fourth-quarter 2023, with EV-related projects accounting for more than half of the spending.

Companies featured: Tesla Incorporated (NASDAQ:TSLA) (Austin, Texas), Hyundai Motor Group (Seoul), General Motors Company (NYSE:GM) (Detroit, Michigan).