The U.S. auto industry has just started finding its footing with electric vehicles (EVs). Jobs are now booming across the Midwest and the new “battery belt” in the South.
But new evidence shows that the rollback of federal tax and regulatory policies poses critical risks to this progress.
A recent report commissioned by Environmental Defense Fund found that EV manufacturing investments reached almost $200 billion over the last ten years. 65% of that came in the last two and a half years – since Congress passed laws that spurred that growth, including the Inflation Reduction Act (IRA).
The report also found that manufacturers have announced 195,000 EV-related jobs in the U.S., and that EV and battery manufacturing could generate up to 826,000 additional jobs in the broader economy.
These investments are being made in communities across the country. Many are the largest investments the states or counties have ever seen. But these investments and jobs are now in peril.