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electric-vehicle-boom-is-pay-dirt-factory-machinery-makersThe investment surge by both new and established automakers in the electric vehicle market is a bonanza for factory equipment manufacturers that supply the highly automated picks and shovels for the prospectors in the EV gold rush. The good times for the makers of robots and other factory equipment reflect the broader recovery in U.S. manufacturing.
Automakers will invest over $37 billion in North American plants from 2019 to 2025, with 15 of 17 new plants in the United States, according to LMC Automotive. Over 77% of that spending will be directed at SUV or EV projects.