“It is kind of a Wild West moment,” Jensen said. “It’s wild money and every state seems to be in on it.”
Many of the companies drawing the biggest subsidy offers — such as Intel, Hyundai, Panasonic, Micron, Toyota, Ford and General Motors — are profitable and operate around the globe. Some lesser-known names in the nascent EV field are getting big offers too, such as Rivian, Volkswagen-backed Scout Motors and Vietnamese automaker VinFast.
The mounting cost of competing for the projects hasn't dissuaded states from trying. On the contrary, they're clambering to outdo each other. Jabbing a finger in the air, he brought the room to a standing ovation, saying: ”It’s time to compete again here in Pennsylvania!” “The money the state is putting up is so large that certain companies can’t afford not to look at it,” Sheehy said.
Need to get the last of the manufacturing jobs before robots and AI take over.
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