August 22, 2023
By:
Walter G. Wright
Category:
Arkansas Environmental, Energy, and Water Law
Arkansas Environmental, Energy, and Water Law
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The Environmental Defense Fund (“EDF”) issued an August 2023 report titled:
U.S. Electric Vehicle Manufacturing Investments and Jobs
Characterizing the Impacts of the Inflation Reduction Act after 1 Year (“Report”)
The Report provides information on what it describes as “significant investments” in the electric vehicle (“EV”) ecosystems in the following categories:
- Manufacturing EVs
- EV Components
- EV Batteries
- EV Battery Components
- EV Battery Recycling
The federal legislation EDF references as stimulating such investments includes:
- Bipartisan Infrastructure Law November 2021
- Inflation Reduction Act August 2022
Characterized as “Key Takeaways” from the Report include:
- Investment (Announcement by manufacturers of $165 billion over the last 8 years in EV and EV battery manufacturing facilities.)
- Jobs (Manufacturers announced 179,300 new U.S. EV-elated jobs in the past 8 years.)
- States (10 states account for 88 percent of announced EV manufacturing investments.)
- Production Capacity (In 2026, U.S. EV manufacturing facilities will be capable of producing approximately 4.7 million new passenger vehicles annually.)
- Additional Policies (Each new investment announcement is stated to represent an opportunity to set a strong standard for what high-quality, community-sustaining jobs in the clean economy can look like.)
- Continuing Growth (U.S. Investments, jobs, and production capacity will likely continue to grow in response to strong federal investments and incentives.)
Note that the 10 states referenced as having 88% of announced investment include:
- Georgia
- Michigan
- Tennessee
- South Carolina
- Nevada
- Kentucky
- North Carolina
- Ohio
- Arizona
- Indiana
Key charts include:
- Total EV Manufacturing Capacity
- Battery Manufacturing Capacity
A copy of the Report can be downloaded here.
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