Transforming the US Auto Industry with a Comprehensive Free Electric Vehicle Plan - The Daily Scroll

Last month’s failure of the Texas electric grid, coming just weeks after General Motors’ pledge to make only electricvehicles by 2035, highlights the daunting task theUnitedStates faces as it takes the first steps toward weaning its economy off fossil fuels. Electriccars are making big waves in the automobile world. These noise-free, pollution-free and high-performance vehicles are expected to make their I.C. The American automotiveindustry is in a state of rapid evolution, driven by trends such as vehicle electrification and automation.The rise of electric and autonomous vehicles has expanded the geographic reach of the automotiveindustry, with California becoming a critical hub. Demand for electricvehicles, however, has lagged behind expectations. Earlier this week, for example, Ford announced plans to cut the production of its electric truck in half, citing insufficient demand. Major electrification initiative planned: more than 30 new e-vehicles by 2025, annual unit sales target of two to three million. Battery technology, digitalization and autonomous driving to be developed into new Group competencies. Components business to be realigned. The three unionized US automakers are all building EV battery plants. There is one plant open, an Ohio joint venture plant between GM and LG, and nine more plants planned or under construction. In all cases the plants are joint venture with foreign battery makers. The Germany automotiveindustry is projected to grow from $197.31 billion in 2025 to $409.63 billion by 2035 at a 7.5% CAGR, driven by EV adoption, software-defined vehicles, and supply chain localization, despite ongoing raw material and regulatory pressures. The autoindustry is undergoing a once-in-a-century transformation and not just blue-collar workers are feeling the impact. Some white-collar jobs are now at risk.Auto companies are racing to meet an electric future, and transformingthe workforce.