Development Authority of 
Peach County Georgia | 425 James E. Khoury Drive | Unit B | Fort Valley, Georgia 31030 | (478) 825-3826 | peachcountydevelopment@ymail.com

North American auto manufacturing footprint unlikely to change through 2029, Chicago Fed says

July 24, 2024
Hannah Lutz, AutomotiveNews.com, July 16, 2024

We are sharing the AutomotiveNews.com post in part below.  Image Source: DAPC

"Many existing plants will provide flexibility across propulsion systems as EV demand and consumer preferences fluctuate.

As a massive investment wave for electric vehicle assembly plants subsides, the auto industry's manufacturing footprint is unlikely to change much for the rest of this decade, according to an analysis by the Federal Reserve Bank of Chicago.

 

Automakers and their partners have invested a cumulative $250 billion in the battery and EV supply chain in North America, with most of that coming since the start of 2021, according to the Department of Energy.

That spending will open new plants that build only EVs, such as Ford Motor Co.'s BlueOval City manufacturing campus in Tennessee, Hyundai's Metaplant in Georgia, and Honda Motor Co.'s EV and battery plants in Ontario in Canada, among others.

But they are outliers, said Thomas Klier, senior economist at the Chicago Fed.

Automakers will invest in their existing plants through the EV transition. Many of those factories will provide flexibility across propulsion systems as EV demand and consumer preferences fluctuate, the Chicago Fed said in a July analysis based on January S&P Global Mobility data."

Read full report here.

  • Georgia Advantages
    Georgia Advantages
  • Incentives
    Incentives
  • Labor and Data
    Labor and Data
  • Workforce and Training
    Workforce and Training
  • Target Industry
    Target Industry
  • Sites and Buildings
    Sites and Buildings
News and Events

Dec 12 | U.S. Economic Development Administration Reauthorized by Congress for First Time in 20 Years

Bipartisan legislation will modernize the EDA and other regional commissions whose mission is to spur economic growth in communities across the…

(READ MORE)

 

Dec 12 | 2025 Housing Symposium - Registration Now Open

Registration is now open for the 2025 Housing Symposium sponsored by the Georgia Department of Community Affairs’ Office of Homelessness…

(READ MORE)

 

+
CLOSE FOOTER MENU
-
OPEN FOOTER MENU
Call: (478) 825-3826 or peachcountydevelopment@ymail.com425 James E. Khoury DriveUnit BFort Valley, Georgia 31030