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U.S. electric vehicle investments reach $188B thanks to Inflation Reduction Act

March 14, 2024


While electric vehicle manufacturing investments have been rising for the past nine years, a new report from the Environmental Defense Fund (EDF) found that the Inflation Reduction Act (IRA) of 2022 kicked things into overdrive, leading to $188 million invested to date – $114 billion of it in the last year and a half.

In “U.S. Electric Vehicle Manufacturing Investment and Jobs: Characterizing the Impacts of the Inflation Reduction Act,” the EDF found that all of these investments also led to 195,000 electric vehicle-related jobs throughout the country. About 100,000 of those developed since the passage of the IRA, and could lead to more than 876,000 more jobs throughout the economy overall.

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