Electric vehicle sales are going strong in 2023. Some reports show sales up more than 60% over the same period of 2022.
That's why Fort Worth is working to attract businesses connected to EV production.
“I think it’s really an unlimited growth path when you talk about these companies and what they can end up doing so very excited about what that means for Fort Worth,” Fort Worth Economic Development Director Robert Sturns said. “Very excited about what it means for Texas.”
46 Ranch Logistics Park in south Fort Worth is where Junchuang North American, Inc. (JCNA) will invest $21 million to build a 55-thousand-square-foot manufacturing facility.
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They build moldings and inserts for EV battery systems.
In North Fort Worth in the Alliance Innovation Zone, MP Materials manufacturing plant is being built.
“They are really producing, they are doing the actual mining of the components to create the magnets that go into the battery,” Sturns said. “So, you really can’t have that, EV production without those magnets.”
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Sturns explained what is attracting these companies to Fort Worth.
“We have the available land,” Sturns said. “We have the available talent. I think that just speaks well to the fact that these companies are looking at Fort Worth as a real growth opportunity.”
Sturns said the growth will benefit Fort Worth and North Texas as a whole as the EV industry continues to grow here.
“Purely from an economic standpoint and from the community standpoint as we continue to grow these companies and grow this industry, it really is going to lead itself to some significant job opportunities for us,” Sturns said.
