The EDF reveals a remarkable transformation in the U.S. electric vehicle (EV) sector. Over the past 8 years, manufacturers have invested a staggering $165 billion in U.S. EV and EV battery manufacturing facilities. Federal policies have been a catalyst, with 56 percent of these investments occurring in the last 12 months post the Innovative Renewable Act (IRA), and 80 percent in the last 21 months following the Bipartisan Infrastructure Law (BIL).

These investments are driving job creation, with 179,300 new U.S. EV-related jobs announced. Notably, 47 percent of new job announcements since 2015 stem from the past year after the IRA, and 72 percent in the 21 months since the BIL.

States are benefiting too. Georgia leads with $31 billion in investment and 36,600 jobs, followed by Michigan and Tennessee with $19 billion and $18 billion investments respectively, and a combined 20,000 new jobs.

By 2026, U.S. EV manufacturing facilities will produce 4.7 million vehicles annually (36 percent of 2022 sales), while battery facilities will supply batteries for 12.2 million vehicles (95 percent of 2022 sales) in 2027.

As global EV manufacturers gear up for a decade of transition, the U.S. stands out, attracting investments and solidifying its position in the EV revolution, thanks to the IRA.

Source: U.S. Electric Vehicle Manufacturing Investments and Jobs | EDF