EV Revolution Creates Massive Need for New Auto Production Facilities
October 21, 2022
The race is on to lead the auto industry’s electric vehicle (EV) transformation. Today, Tesla holds a sizable lead in production capability, technology, and market share, but legacy manufacturers like Ford, Volkswagen, and General Motors are gaining ground with aggressive efforts to prepare for mass production of new EV models.
According to the International Energy Agency, global EV sales could reach 200 million by 2030, up from just 10 million a decade earlier. The future of the industry is being decided now, and stakeholders everywhere are investing accordingly, from manufacturers and their suppliers to government agencies and environmental organizations.