EV & Automotive Battery Manufacturers Entering the U.S.
This week, several vital EV & automotive battery manufacturers announced their consideration of forgoing factories in the E.U. in favor of building in the U.S. This shift was a result of the U.S. President Biden’s recent State of the Union and the administration’s CHIPS Act, promising a total of $50 billion in funding to subsidize the cost of increasing manufacturing in the U.S.
In fact, the U.S. has now begun to outpace other major manufacturing regions, causing other countries to join their efforts in putting restrictions on chipmaking technology exports into China. These shifts across the globe are changing the face of manufacturing, and may continue to have impacts on the supply chain.
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Sources:
Exclusive: Dutch responds to US China policy with a plan to curb semiconductor tech exports
U.S. manufacturing growth outpaces the rest of the world
Biden Did It. EV, Battery Manufacturing Is Coming to America.