States Competing to Replace Michigan as Automotive Capital
Several states are increasing investments in electric vehicle manufacturing in attempt to replace Michigan as the new automotive capital of the U.S., as highlighted by a recent story from CNBC.
Startups including Amazon-backed Rivian and VinFast from Vietnam are spending billions to build factories in Georgia and North Carolina, while Hyundai is expanding in Georgia. Volkswagen also has a massive facility in Tennessee and is looking to expand there, in addition to Ford, which recently announced it will build a $11.4 billion manufacturing complex in the state.
In response, Michigan Governor Gretchen Whitmer signed a package of legislation including a new $1 billion incentive fund for “strategic outreach and attraction” for manufacturers.
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