As much as we try to fulfill them, there is essentially no end to human wants and needs. However, what we do have is a pecking order that helps us in structuring our pursuit for different things according to their importance. Now, it’s a hard gig in itself to place a particular element above or below others, so we always seek some room to rework the pecking order along the way, which makes this freedom and flexibility probably the most important of all the other factors in our lives. The idea of freedom allows us to be creative, and that alone has proved to inspire ground-breaking results. You only have to look at technology to get a gist of what freedom and flexibility, if allowed to a proper extent, can actually lead to. In fact, with technology, we have only further accentuated our ability to find a wiggle room for the future. The benefits didn’t take long to appear on the surface, as the world now buckles in for this tech-centric world to go full-throttle. One of the areas where the tide is turning rather sensationally is the automotive industry. With battery-powered vehicles increasingly becoming a norm, the sector is ready to turn a corner, and a recent decision from lawmakers in Tennessee does everything to encourage it.
The state of Tennessee has just announced an incentive package worth $884 million for the ‘mega campus’ project. The project is specifically designed to bolster the manufacturing of EV vehicles. Poised to hit the ground near Memphis, the mega campus is a brainchild of automotive-giant, Ford. Ford has been looking to enter the EV picture for a while now. Their willingness to be part of this movement was more than apparent when the company recently committed $5 billion dollars to the construction of mega campus. Named as Blue Oval City, the campus will be the biggest facility Ford has ever built, stretching across 9 square miles. Furthermore, it is expected to create upto 27,000 jobs in direct and indirect roles. As far as state earnings are concerned, Tennessee will be banking $22.4 million every year in state tax revenue, but the figure ends up clocking $1 billion when we talk about overall annual earnings that the plant will likely generate for the state.
Out of $884 million, Ford will be handed $500 million as a grant, whereas the remaining sum will be staggered to bear different costs. For instance, Tennessee will shell out over $200 million for road construction around the site. Another $138.2 million will be spent on infrastructure and demolition.
While Ford has certainly gone big with its EV plans, other automotive manufacturers aren’t too far behind. General Motors has already revealed that it will be building multiple battery factories in collaboration with LG Chem. The likes of Mercedes-Benz and Toyota are also reported to have similar projects in the pipeline.