President Barack Obama’s efforts to boost electric car production within the next five years are already paying off and they’re helping more than just battery makers.
Less than a year after the President promised $2.4 billion in federal grants for electric car development and manufacturing, ailing U.S. automakers have started hiring again.
Ford Motors (Stock Quote: F) has added 170 assembly jobs in Michigan as it ramps up its electric car production and it plans to hire 50 engineers, according to The Wall Street Journal. And the American automaker is planning to invest $450 million in electric car development and production which could add another 1,000 jobs at the company, according to USA Today.
Work to improve car efficiency alone is expected to create 90,000 new jobs according to estimates from the Center for American Progress, many of which will be in Michigan, Indiana and Ohio. And that’s all in the context of a dismal job market and an unemployment rate of about 9.5%.
But with Ford battery manufacturing in Japan, and some vehicles assembled in Mexico according to The Wall Street Journal - which takes away from the environmentally-friendliness of the cars as well – not all of the jobs created will be in America.
About 3% of car buyers are likely to choose an electric car, according to a customer survey by Deloitte.