Why Georgia Is Getting an Electric Boost

From Peaches to Batteries

Georgia may need to change its nickname from “The Peach State” to “The Battery State”.

Investments from both the public and private sectors have flowed into the state in recent years, transforming the state into a hub for electric vehicle (EV) manufacturing.

EV Investments

Georgia’s EV industry benefited from the 2021 Bipartisan Infrastructure Law destined to expand charging capabilities, as well as the 2022 Inflation Reduction Act that helped spur clean energy investments across the country.

Georgia has also drawn an estimated $23 billion of private investments in EV and battery production, according to an analysis by Wells Fargo (WFC), once again outpacing all other states. Specifically, Hyundai (HYMTF) and Kia (KIMTF) have both invested heavily in expanding their EV manufacturing capabilities in Georgia.

Altogether, public and private investments helped create thousands of jobs in Georgia.

Rapid Growth

Georgia’s economic growth has outpaced the national average in seven of the last ten years, per Wells Fargo. Plus, its population has grown rapidly in recent years, largely due to international immigration, as well as citizens relocating to the so-called Sunbelt, or America’s southern region, seeking an affordable cost of living — and, yes, new job opportunities.

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