Automotive industry shift to EVs sparks massive domestic factory push
Approximately $33 billion was pledged for new factory development in the automotive sector in the first eleven months of 2022, according to the Wall Street Journal. The major investment is being labeled as a “factory boom” after the United States government encouraged the growth of the Electric Vehicle markets.
Overall, there are several reasons why the United States may need more automotive EV factories, including increasing demand, competition with other countries, energy independence, and environmental concerns, and economic development. As more consumers are looking to purchase EVs, there is a growing demand for these vehicles in the market. Other countries, such as China, are also investing in EV manufacturing, and the United States may want to increase its domestic production in order to remain competitive in the global market. Building more EV factories in the United States may help to reduce the country's reliance on imported oil and may also have environmental benefits, as EVs produce no tailpipe emissions.
Porsche is ramping up its sustainability efforts in logistics by rolling out six new electric trucks across its Zuffenhausen, Weissach, and Leipzig facilities.