Electric Vehicle Market in the U.S.: EVs Gaining Traction

By Gary S. Vasilash

Last week Stellantis announced a $2.8-billion investment in Canada. Investment will be made in the Windsor Assembly Plant to set it up to produce a new multi-energy vehicle architecture. . .with one of the energies being electricity.

There will be spending at the Brampton Assembly Plant—currently the home of the Dodge Charger and Challenger (and Chrysler 300)—where a vehicles based on a new architecture will be produced starting in 2025. An electrified architecture.

And there will be some spent on expanding a battery lab.

In ordinary times, $2.8 billion would be the stuff of amazement.

But now it is basically table stakes as automakers build new factories or transform old ones for electric vehicle production. As well as making investments related to battery development and production.

GM has announced it is investing $35-billion by 2025 for electric vehicles.

Ford has announced that it will be spending $50-bilion through 2026 for the same.

S&P Global Mobility, according to principal automotive analyst Stephanie Brinley, anticipates that sales of electric vehicles in the U.S. will be on the order of 35.7% of the market by 2030.

In 2021 that number was about 4%. So within the next eight years there will need to be a rise of about nine times where they are now.

But according to Brinley and Mike Jackson, executive director of strategy and research for the Original Equipment Suppliers Association (OESA), it seems highly likely that this will be the case.

The how and why this will occur are discussed on this edition of “Autoline After Hour,” where Brinley and Jackson talk to “Autoline’s” John McElroy and me.

And you can see it all here.

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