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January 31, 2024 9:00 p.m.
CLEVELAND, Tenn. — The head of the U.S. Center for Automotive Research said Wednesday that the large investments seen in the electric vehicle sector, including in Tennessee, are expected to ease.
Alan Amici, CEO of the Michigan-based Automotive Research Center, said he expects investment to return to a “more sustainable level” in the future.
“They’re rebuilding their factories, their products, their supply chains,” he said of the estimated $146 billion invested in electrification in North America over the past three years. “This is an incredible investment that has never been seen before in the automotive industry.”
This figure does not include suppliers or governments, Amici said at the Smart Factory Electric Mobility Innovation Conference.
Amici said Tennessee has the fifth or sixth highest amount of investment in this area.
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