The Southeast U.S., a longstanding hub for automotive manufacturing, has experienced significant growth in the electric vehicle (EV) sector since the signing of the Inflation Reduction Act (IRA) in August 2022. Since then, 77 EV projects have been announced nationwide, surpassing $80 billion in investments and approaching 49,000 in anticipated new jobs. The Southeast stands out as a focal point claiming 49.4% of these projects, and this surge in activity has earned the region the new moniker: The Battery Belt.
This report examines the impact of battery plants, EV manufacturing facilities, and gigafactories on the Southeast’s commercial real estate market. Additionally, it explores the ripple effects of the changing landscape, highlighting the influx of suppliers aligning themselves with the region’s evolving industrial needs and raising the demand for proximate space.
States featured in this report include North Carolina, South Carolina, Tennessee, Georgia, and Florida.
