2 ms·
Much of the expansion is thanks to the Biden-era IRA with their battery expansion in NC [0] and Kentucky [1][2], so the momentum was already growing. The tarif
by alephnerd 2y ago
Much of the expansion is thanks to the Biden-era IRA with their battery expansion in NC [0] and Kentucky [1][2], so the momentum was already growing.
The tariffs only sped up this reshoring, by de-incentivizing under-utilization of US plants or comingling of foreign originated intermediate parts.
[0] - https://www.utilitydive.com/news/toyota-begins-production-expanded-north-carolina-plant/739777/ https://www.utilitydive.com/news/toyota-begins-production-ex...
[1] - https://www.manufacturingdive.com/news/toyota-investing-kentucky-plant-billion-produce-evs/707059/ https://www.manufacturingdive.com/news/toyota-investing-kent...
[2] - https://www.automotivedive.com/news/toyota-motor-investing-922-million-kentucky-advanced-paint-facility/735424/ https://www.automotivedive.com/news/toyota-motor-investing-9...