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Investment surge in EV a market bonanza for factory equipment makers
- Sunday | 22nd August, 2021
DETROIT (Reuters) – The 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 US manufacturing. For just one area of a factory, like a paint shop or a body shop, an automaker can easily spend $200 million to $300 million, industry officials said. ‘WILD, WILD WEST’ “This industry is the Wild, Wild West right now,” John Kacsur, vice president of the automotive and tire segment for Rockwell Automation, told Reuters. Growing demand, however, does not mean these equipment makers are rushing to expand capacity.
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