EV-related
investments
States are fighting among themselves – and the U.S. is fighting Canada and Mexico – for plants, facilities and suppliers as automakers increase their electrification investments. While more than $100 billion in projects have been announced, there are billions more up for grabs.
Alabama
Ohio
N. Carolina
Tennessee
Georgia
Michigan
United States, 2018-2023, $105.1 billion announced in total.
Automaker announced EV/battery-related investment
EV sales forecast
61%
Forecast of global EV sales share in 2035
34%
Forecast of global EV sales share in 2028
Global EV sales share in 2022
13.3%
North America, 2018-2023 year to date.
Announced automaker EV/battery-related investments
$0
2019
2020
Southern states
Midwest states
Georgia, North Carolina, Tennessee
Combined $38 billion in investments secured; $6.7 billion in incentives offered
Michigan, Indiana, Ohio
Combined $28.6 billion in investments secured; $5.6 billion in incentives offered
North America, 2018-2023 year to date. ($140.9 billion in total investment)
Announced automaker electrification investment by region
Credit: AdobeStock
Kentucky
Indiana
S. Carolina
Texas
Percent of investment captured
Announced investment
3.3%
Nevada
$9M
Percent of investment captured
Announced investment
2.1%
$2.3B
Percent of investment captured
Announced investment
3.4%
$3.8B
Percent of investment captured
Announced investment
7.2%
$7.9B
Percent of investment captured
Announced investment
7.5%
$8.2B
Percent of investment captured
Announced investment
21.3%
$23.2B
Percent of investment captured
Announced investment
18.4%
$20B
Percent of investment captured
Announced investment
9.9%
$10.8B
Percent of investment captured
Announced investment
9.1%
$9.9B
Percent of investment captured
Announced investment
8.2%
$8.96B
Percent of investment captured
Announced investment
7.9%
$8.6B
Announced investment
$210M
California
Announced investment
$9M
Arizona
Announced investment
$210M
New York
Announced investment
$351M
W. Virginia
Announced investment
$200M
Illinois
Announced investment
$500M
Missouri
Source: Center for Automotive Research Book of Deals, through July 2023
2021
2022
2023*
2018
$10B
$20B
$30B
$40B
$50B
Electrification
Other non-EV
Source: Center for Automotive Research Book of Deals, 2023; *Note: Data through July 2023
$4.5B
$21.9B
$8.7B
$34.4B
$52.9B
$41.6B
Percent of investment captured
Announced investment
14.5%
$20.4B
Canada
Percent of investment captured
Announced investment
7.9%
$11.4B
Mexico
Percent of investment captured
Announced investment
77.6%
$109.1B
U.S.
U.S. Great Lakes
$48.9B
South
$55.8B
Source: Center for Automotive Research Book of Deals, 2023
Credit: AdobeStock
Photo by AdobeStock
Source: AlixPartners
Compiled by Crain's Detroit Business
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