The growth of the electric vehicle (EV) industry and charging network in the United States has led to several beneficial and promising economic impacts. Following the one-year anniversary of the Inflation Reduction Act (IRA), the EV sector has reached new heights with nearly $199 billion invested over the past ten years, with 63% coming in the last two years.

Analysis of the latest data indicates that over 188,000 EV jobs have already been announced, and recent reports suggest that EV and battery manufacturing could result in an estimated 931,000 indirect jobs across the broader economy. Transcending partisanship, states across the country are welcoming these new employment opportunities and economic benefits from the recent growth of EV manufacturing. Additionally, the growth of the EV charging network has led to economic and infrastructural benefits as well as job creation and the opportunity to prepare the next generation of American workers with the skills to deploy, build, and maintain the current and future EV charging network. Finally, the EV industry will continue to positively impact the U.S. economy by strengthening energy independence and supporting innovation.

This white paper examines the case for the continued progress of electric vehicles (EVs), outlining the environmental and economic impacts of the EV industry’s expansion, demonstrating how going electric can support advancements in U.S. energy security, and how EVs are critical to the country’s future of transportation and its economic resilience.