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Foreign Direct Investment in the Carolinas' E-Mobility Sector – Morgan Crapps Speaks at Global Carolina Connections Conference

  • Speaking Engagements, News
  • August 31, 2022

Morgan Crapps recently participated in a panel discussion at the Global Carolina Connections Conference about the challenges and opportunities within the growing E-Mobility sector in North and South Carolina.

One of the biggest challenges Morgan noted during the panel discussion was that existing suppliers within the Carolinas’ robust, traditional automotive supply chain are now having to retool and adjust to prepare for more EV production. The competition among these suppliers is only getting stronger, considering that internal combustion engines contain over 2,000 moving parts, whereas EVs only contain around 20. With tight margins and heightened competition, Morgan noted that it’s now more important than ever to make smart site selection decisions, noting that small costs add up to make a big difference to a company’s bottom line.

Another panel discussion focused on changes and trends in the EV landscape. Morgan noted that federal subsidies are becoming more of a factor than in years past. Historically, incentives have primarily come from local and state governments, but the federal government is now playing a more active role. Federal incentives were previously more geared towards consumers, but the model is shifting to provide incentive opportunities to manufacturers, as well. Companies in the EV supply chain should consider how federal programs can or cannot be incorporated into their expansion decisions.

Other panelists included Leighton Yates (Government Affairs with Vinfast US), Ravi Nagarkar (CEO of Bharat Forge - US Operations), Steve Christian (Senior Director, North American Sales, STAR Electric Vehicles) and David Verner (Executive Vice President at Gresham Smith).

About Global Carolina Connections - Global Carolina Connections is the premier conference on foreign direct investment and international manufacturing in the Carolinas. Now in its 9th year, the conference has brought together 1000s of leaders from foreign-owned and affiliated companies to discuss topics of immediate relevance and importance. Past topics include top management talent for global businesses; global automotive manufacturing in the Carolinas – current impacts and future trends; workforce development for international companies; and updates on North and South Carolina’s FDI recruitment and international trade strategies.

Parker Poe Consulting is a corporate site selection and economic incentives consulting firm. The Parker Poe Consulting team provides site selection services to find data-driven solutions for clients who are expanding their footprints and considering new capital investments and job creation. Parker Poe Consulting also provides economic incentives consulting services to growing companies, helping clients navigate and negotiate incentives for economic development projects. From global conglomerates to family-owned businesses, Parker Poe Consulting positions companies to make informed project decisions that will maximize operational effectiveness while reducing costs.