U.S. Electric Vehicle Market Still Faces Big Challenges, Despite New Investment Announcement

SUGAR LAND, TEXAS--September 30, 2021--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Ford Motor Company (NYSE:F) (Dearborn, Michigan) and its electric vehicle (EV) battery supplier, SK Innovation (Seoul, South Korea), announced this week a plan to invest $11.4 billion to construct three EV battery-manufacturing sites and one vehicle-assembly factory in the Southeast. A Ford official said it was the company's largest capital project in the company's history.

The announcement obviously is big news, but the EV market faces some major hurdles before it can become a real force in the automotive world, says David Pickering, Industrial Info's vice president of research for the Industrial Manufacturing industry.

Other companies featured: General Motors Company (NYSE:GM), Tesla (NASDAQ:TSLA)