Tesla and its enigmatic leader Elon Musk have pioneered what looks to be the future of the automotive industry in the United States with their innovative electric vehicles. Their success has been unprecedented, and 2022 promises to be their biggest year yet. Orders for Tesla EVs nearly doubled at the start of this year and show no sign of slowing down. However, Ford and Hyundai have big plans in place to compete with Tesla, as they hope to take over the car industry once again in the US.
Table of Contents
Ford Announce Blue Oval City In Tennessee To Increase Production
Ford has identified Tennessee as the perfect state to open up a brand-new electric vehicle manufacturing campus worth over $5.6 billion to increase the manufacture and production of their very own line of innovative cars. Ford has been Tesla’s closest competitor over the past few years in the realm of electric vehicles, even though Tesla has been dominating the market. The manufacturing campus will be known as Blue Oval City, and it is expected to create over 6000 jobs for natives of Tennessee.
Electric Beats Gas In Marketing
The shift to electric vehicles has been fast and efficient, with these big hitters in the industry paving the way for the future of the automotive industry. Much of the marketing for electric vehicles revolves around the deficiencies of conventional petrol and gas-powered vehicles. One of the main negative aspects of gas is that it can go bad if left in a vehicle for too long.
Fuel can expire as it is not a product that lasts forever, with most kinds of fuel having a shelf-life of around 6 months if it’s left unused. Electric vehicles do not have this problem as regular battery charging powers the engines of these innovative vehicles. However, companies like Ford and Hyundai still get most of their revenue from conventional gas-powered road vehicles. For now, anyway.
Hyundai Have Big EV Manufacturing Plans for Georgia
Hyundai recently announced that they will be opening an electric vehicle manufacturing plant in Georgia in 2022 worth around $5 billion. It is expected that the plant will bring around 8500 jobs to the people of Bryan County as the massive South Korean car group looks to compete with some of the biggest hitters in the electric vehicle industry in the United States.
Hyundai has cited the massive potential that exists within the EV market and wants to get in on the action while the industry is still in its infancy stages. Georgia has proved itself as a state with the infrastructure to maintain and function as an EV manufacturer as one start-up has already built a plant that produces electric trucks and vans.
Electric Vehicles Set To Dominate The Market In The Coming Decade
The moves made by companies like Ford and Hyundai serve to underline the potential of electric vehicles for the future of the automotive industry in the United States. Currently, there are around 600 000 EVs on American roads, but that number is expected to quadruple over the next five years.