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There’s a Billion-Dollar Bidding War for EV Plants Across the US

  • Automakers announce $50 billion in US EV investment since 2020
  • States pledge at least $10.8 billion in corporate subsidies
Construction is underway for Ford’s new EV plant the “Blue Oval City.” 
Construction is underway for Ford’s new EV plant the “Blue Oval City.” Source: Houston Cofield
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Michigan Governor Gretchen Whitmer wasn’t happy. Ford Motor Co., a company whose very name is synonymous with Detroit, had just announced it had chosen two southern states, Tennessee and Kentucky, as sites for an $11 billion electric-vehicle project.

They had won Ford over by dangling huge incentives, and Whitmer knew Michigan needed to do more to compete. So she pleaded with lawmakers in a letter last October to put “more tools in our economic toolbox to attract private investment.” Two months later, they delivered, handing her a $1 billion fund for corporate subsidies. And a month after that, Whitmer dipped into the fund to net a giant deal from General Motors Co.: a $6.6 billion electric-truck factory and battery plant.