To date, the latter program has loaned $8 billion (out of $17.7 billion of total funding) to support the production of more than 4 million advanced technology vehicles, including battery electric vehicles from Tesla and Nissan. consumers in the transition? It has deployed several policies to encourage automaker investments, including the federal tax credit and the Advanced Technology Manufacturing Loan. How does the federal government ensure that it is supporting automakers and U.S. Several tax credit design changes can “ enhance the effectiveness of the federal dollars” to advance automaker interests in producing more electric vehicles and ensure that the EV market for the average buyer can grow in tandem. For example, GM, Ford, and Stellantis have urged the federal government to lift the cap in the federal tax credit for EVs, which would help lower EV prices and benefit manufacturers and consumers alike. Many automakers have agreed that they can no longer step on the gas in building internal combustion engine (ICE) vehicles. light- duty vehicle production by 2025 (updated June 2022) The rest of the plants, in different shades of brown, are partial electric (approximately one-third of 2025 production will be EVs), mostly combustion (approximately 3% of 2025 production will be EVs), existing full combustion, and new combustion.įigure 1. This includes four existing full electric plants (dark green bar), three that are under conversion to full electric (light green bar), and four full electric plants that are under construction (green and white hatch). ![]() ![]() Of the 49 passenger vehicle assembly plants shown in the figure, 11 will produce only electric vehicles by 2025. assembly plants is shown in Figure 1, which includes four new full electric plants from Vinfast (a rising Vietnamese all-electric automaker), Ford, Hyundai, and Rivian. Meanwhile, General Motors will inject $7 billion into its plants in Michigan to boost production of its full-size electric pickups as rivals to Ford’s.Ī new tally of electric versus combustion production at U.S. As part of a new $3.7 billion investment, Ford aims to increase production of its F150 Lightning truck at its Dearborn plant and plans introduce a new electric commercial vehicle. Power Play publication in 2021, which summarized automakers’ commitment to electric vehicles (EVs), more automakers have jumped on the EV bandwagon. ![]() In contrast to sluggish sales overall in the automotive industry since the pandemic, sales of EVs continue to increase at a “pedal to the metal” pace.
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