The onshoring of battery manufacturing for EVs started as a trickle during the COVID-19 pandemic. Now it’s a tsunami.
In 2019, just two battery factories were operating in the United States with another two under construction. Today there are about 30 battery factories either planned, under construction or operational in the country.
U.S. president Joe Biden’s Inflation Reduction Act, signed into law August 16, 2022, might not have been the initial catalyst behind the onshoring battery factory trend. But it did help open the spigot and accelerate the pace of factory projects — not to mention sparking a climate tech arms race with the EU. One year later, we’re here to make sense of it.
Have more mobility news that we should be reading and sharing? Let us know! Reach out to Sage Kashner (kashner@ctaa.org).
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