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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