Report Looks At Economic Effects Of Electric Vehicle Expansion

electric-vehicle-safe-23-4
electric-vehicle-safe-23-4

A new report predicts Michigan’s economy would see major benefits from the Biden administration’s proposed $274 billion investment to electrify the transportation sector. The report from Advanced Energy Economy notes the American Jobs Plan would increase GDP and spur private investment. Laura Sherman, with trade group Michigan Energy Innovation Business Council, says electric vehicles represent where the industry is going globally, and Michigan automakers are also ready.

“We’re getting a lot more companies who are building the batteries for electric vehicles, building up that supply chain here. Obviously, the automakers work with a huge network of suppliers. And so, I think there’s a lot of opportunities for job growth.”

The report estimates 7% job growth this year in Michigan’s advanced-energy sector, which already employs more than 120,000 people in the state. The highest number of advanced-energy jobs are in energy efficiency, followed by solar, wind and hydro; battery storage and grid technology; and electric transportation.