Electrifying Shift: How the Automotive Industry is Powering Atlanta's Industrial Demand
Atlanta has long been recognized as a major hub for business and commerce in the South. With a rapidly growing population that added 79,000 new residents in 2022, coupled with a thriving economy, the city has witnessed an electrifying shift in recent years, fueled by the automotive industry. As the world transitions towards cleaner and more sustainable modes of transportation, Atlanta has emerged as a significant player in the electric vehicle (EV) revolution, leading to an increased demand for industrial infrastructure to support this transformative change.
The Rise of Electric Vehicles
The rise of electric vehicles has been nothing short of remarkable. Concerns over climate change and the need to reduce carbon emissions have pushed governments, businesses, and consumers to embrace cleaner alternatives to traditional gasoline-powered cars and trucks. According to the Georgia Department of Economic Development, since 2018 there have been 35 EV-related projects in the state that have helped produce around $23 billion in investments.
As a result, major automakers such as Hyundai have shifted their focus towards developing and manufacturing electric vehicles, spurring a wave of innovation and investment in the sector. Most recently, Hyundai’s new EV factory under construction in Bryan County near Savannah will be three times the size of their Montgomery plan that boasts an incredible 3.4 million SF. This new factory will bring with it a rumored 8,000 new jobs that will certainly continue to boost the Georgia economy. This move by Hyundai not only signifies Atlanta's importance in the future EV landscape but also showcases the city's potential to become a manufacturing powerhouse for electric vehicles and related components.
Industrial Demand and Infrastructure
With the growing presence of electric vehicle manufacturers in Atlanta, the demand for industrial infrastructure has skyrocketed over the past few years. The production of electric vehicles requires specialized facilities that can handle the unique requirements of EV manufacturing, such as battery assembly, electric motor production, solar power, and charging infrastructure development. In 2022 it was reported that Georgia had more than 42,000 EV’s registered in the state, and that number continues to grow.
To meet this demand, Atlanta has witnessed a surge in the construction of industrial spaces and manufacturing facilities. Existing industrial parks are being retrofitted to accommodate the specific needs of electric vehicle production, while new facilities are being developed to cater exclusively to the automotive industry that requires large amounts of space. This has not only created numerous job opportunities totaling 28,000 since 2020, but has also given a significant boost to the local and state economies.
Looking ahead, Atlanta's industrial demand is expected to continue its upward trajectory as the adoption of electric vehicles becomes more widespread. The state of Georgia has cemented itself as a thriving ecosystem for the push toward EV, attracting further investments in the automotive sector. This growth will not only solidify Georgia’s position as a key player in the automotive industry but will also have far-reaching economic and environmental implications for years to come.