1. STATES PULL OUT ALL THE STOPS IN RACE FOR EV INVESTMENTS.
- Author
-
Nagl, Kurt
- Subjects
TAX incentives ,MULTIPLIER (Economics) ,RACE ,SUBSIDIES ,ECONOMIC impact ,ELECTRIC automobiles ,OCCUPATIONAL training - Abstract
The state approved an incentives package valued at $1.7 billion - the largest subsidy approved by any state this year - to land the Ford-CATL battery plant in Marshall, about 100 miles west of Detroit. Tennessee did approve $884 million of incentives for Ford's $5.6-billion, 6,000-job EV investment announced in tandem with its Kentucky plant, but the prize was more valuable than just a battery plant. Since 2021, southern states have captured nearly 70 percent of automaker EV investment in the U.S., with Georgia leading the way at $20 billion, according to CAR data. [Extracted from the article]
- Published
- 2023