Is America's Southeast The New 'Motown?' How Small Towns In Georgia, Tennessee Are Taking On Detroit's Auto Legacy
Portfolio Pulse from Benzinga Neuro
The Southeast region of America is becoming a hub for electric vehicle and battery production, challenging Detroit's auto industry dominance. The region has attracted foreign auto and battery manufacturers due to substantial tax credits and environmental subsidies from the Inflation Reduction Act. Since 2010, the region has seen over $70 billion in EV and battery production investments, surpassing the Midwest’s $51 billion. The region's 'right-to-work' laws have also attracted investment. However, some experts suggest that the figures may be misleading as new plants in the southeast require more investment due to their greenfield status.
October 26, 2023 | 6:23 am
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NEGATIVE IMPACT
Ford Motor Co may face increased competition as the Southeast region of America becomes a hub for electric vehicle and battery production.
The rise of the Southeast as a hub for EV and battery production could increase competition for Ford, potentially impacting its market share and revenues.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
General Motors may face increased competition as the Southeast region of America becomes a hub for electric vehicle and battery production.
The rise of the Southeast as a hub for EV and battery production could increase competition for General Motors, potentially impacting its market share and revenues.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Stellantis NV may face increased competition as the Southeast region of America becomes a hub for electric vehicle and battery production.
The rise of the Southeast as a hub for EV and battery production could increase competition for Stellantis, potentially impacting its market share and revenues.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BMW may benefit from the Southeast region of America becoming a hub for electric vehicle and battery production.
BMW, with its plant in Spartanburg, South Carolina, could benefit from the rise of the Southeast as a hub for EV and battery production, potentially boosting its market share and revenues.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Mercedes-Benz may benefit from the Southeast region of America becoming a hub for electric vehicle and battery production.
Mercedes-Benz, with its largest North American plant in Tuscaloosa, Alabama, could benefit from the rise of the Southeast as a hub for EV and battery production, potentially boosting its market share and revenues.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Toyota Motor may benefit from the Southeast region of America becoming a hub for electric vehicle and battery production.
Toyota Motor, with its plant in Georgetown, Kentucky, could benefit from the rise of the Southeast as a hub for EV and battery production, potentially boosting its market share and revenues.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70