Area Development: Location Factors in the EV Industry — “Mission Critical” or “Nice to Have”?

Area Development: Location Factors in the EV Industry — “Mission Critical” or “Nice to Have”? Main Photo

1 Jun 2023


News

Shifting policies and regulations, increased consumer spending, significant investments by leading automotive original equipment manufacturers (OEMs), continued environmental concerns, high gas costs, decreasing battery prices, and charging system technology advancements are among the many components contributing to electric vehicles (EVs) record-setting sales in the second quarter of 2022. By 2030, automakers are anticipated to invest over $500 billion, globally, in EVs and associated components, forging ahead with plans to predominantly shift to production of EV platforms by the end of the decade — if not sooner — as EV utilization has already seen mass adoption in Europe and Asia and is reaching a tipping point in the U.S.

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