WASHINGTON (January 16, 2025) – According to a new report from Atlas Public Policy (Atlas) and the BlueGreen Alliance Foundation, from 2000 to September 2024, private companies announced $208.8 billion in investments in U.S. electric vehicle (EV) and battery manufacturing. More than three-quarters of all investments are either under construction or operational as of October 2024. These investments are associated with more than 240,000 manufacturing jobs.
Demand for electric vehicles has been on the rise in recent years—in September 2024, EVs made up 10 percent of all new light-duty vehicle sales. To help meet this demand and reenergize U.S. manufacturing, the federal government is courting companies throughout the EV supply chain to manufacture their vehicles and components in the United States. “U.S. manufacturing is entering a renaissance,” said Nick Nigro, Founder of Atlas Public Policy. “Overwhelmingly, American companies are creating good jobs and powering our future through American innovation.” American companies are investing more than double the next largest country. Nationwide, 54 counties will each see more than 1,000 EV manufacturing jobs.
The report, Tracking the State of U.S. EV Manufacturing, analyzes investments in U.S. EV supply chains. The report includes EV assembly, battery assembly, component manufacturing, critical mineral mining and processing, and EV charging equipment. In the past several years, China has dominated global manufacturing in each of these categories. But, bolstered by federal incentives, companies are increasingly maximizing on the opportunity to build out the American supply chain.
Federal benefits, principally tax credits, loan programs, and grant funding, have contributed to the onshoring of manufacturing facilities, motivating automakers to establish their EV and battery production in the United States. Since the passage of the Infrastructure Investment and Jobs Act in November 2021, the U.S. has seen $157.3 billion in private investment in domestic manufacturing, resulting in more than 163,000 announced manufacturing jobs. Private companies have accessed more than $28 billion in federal government grants and loans for the construction and development of EV and EV battery manufacturing facilities.
The report also highlights the labor considerations of these jobs, measuring unionization, worker and community benefits, and apprenticeship and training programs. “It is key for these companies to create good, quality jobs that provide sufficient wages and worker protections,” said Jason Walsh, President of the BlueGreen Alliance Foundation. “Thanks in part to the community and workforce benefits frameworks developed by federal agencies, companies are not just investing in factories, but also in workers and communities when they set up shop here.”
As the domestic industry continues to grow, labor and supply chain considerations will remain critical. Automakers have stepped up to secure critical minerals for batteries through exclusive agreements and long-term contracts. Ensuring benefits for workers and communities demands ongoing action to secure high-quality jobs, safe working conditions, and fair pay. The report shows the potential for American know-how to advance the EV manufacturing sector and position the United States to be a global leader in this vital part of the economy.
Contact Tom Taylor (tom.taylor@atlaspolicy.com) or others at Atlas (info@atlaspolicy.com) for more information regarding this report. Media inquiries should be directed to press@atlaspolicy.com.
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