Why the Southeast Is Winning EV Projects, With More on the Way
July 1, 2023
The southeastern United States has become a focal point for electric vehicle (EV) manufacturers and their suppliers as automotive original equipment manufacturers (OEMs) place their bets on EV plants that will usher in the EV era. These new plants are essential to the long-term growth plans of the OEMs, and a company’s location decision is particularly critical.
Key Considerations for EV Projects
The Southeast has already landed a significant number of new EV projects from both OEMs and their suppliers, and it is very likely to win even more. Like many competitive economic development projects, key factors for EV projects include logistics and supply chain, available and trained workforce, real estate, utilities, and incentives. When OEMs and their suppliers weigh these factors in their location decisions, the Southeast emerges as an ideal location. Moreover, southeastern states are making a concerted effort to land these projects as they represent the next generation of major domestic automotive manufacturing.