With a pledge to make a third of its lineup electric by 2025, the company is eyeing production in the U.S. and the financial advantages it would bring.
. To qualify for some of the changed tax credits laid out in the IRA, EVs increasingly need to be assembled in the U.S. Other recent federal legislation, especially the CHIPS and Science Act, are also encouraging companies to make EV components, like batteries and silicon chips, in the U.S.
The IRA's details change as the years go on, but the overall trend has already prompted over $28 billion in EV manufacturing investment announcements between the signing of the law in August and the end of 2022, according to the Electric Vehicle Association. Figures from the Bureau of Economic Analysis show that investment in U.S. factories of all types is rising, too, from around $70 to $75 billion per quarter in 2020 to $88–$105 billion per quarter in 2022, thenoted.
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