Happy Friday Elio’ers! Is it just us, or did the Thanksgiving Holiday just fly by? If Turkey Day didn’t whet your holiday appetite, you’re in luck, as the Holiday Season has officially kicked off! It’s truly a wonderful time of year and we hope that you have begun to enjoy the season with friends and family.
In Today’s Three Wheeling Friday Blog, we’re going to look at a piece of recent news and why it matters. If you’ve been following the news, you already know that General Motors has announced that it will be closing several plants, discontinue several models, and lay off 15% of their salaried employees. While it’s certainly unfortunate news by any measure, it’s a good time to take a look at why American manufacturing is so vital to the nation’s economy and how Elio Motors can play its part in the American manufacturing renaissance.
First, the scale of the United States’ manufacturing sector is staggering. According to The Balance, “U.S. manufacturing is the largest in the world. It produces 18.2 percent of the world’s goods. That’s more than the entire economic output of Canada, Korea, or Mexico.” In 2018, the manufacturing sector drove 11.6 percent of the United States’ economic output, good for $2.33 trillion. When the manufacturing sector is thriving, other industries also stand to benefit. Again, from The Balance, “Manufacturing adds a lot of value to the power of the U.S. economy. Every dollar spent in manufacturing adds $1.89 in business growth in other supporting sectors, according to the National Association of Manufacturers. These include retailing, transportation, and business services.”
Somewhat surprisingly, many manufacturing jobs are unfilled. “Yet, 89 percent of manufacturers are leaving jobs unfilled. They can’t find qualified applicants, according to a 2018 Deloitte Institute report. The skills gap could leave 2.4 million vacant between 2018 and 2028. That could cost the industry $454 billion in 2028.”
At Elio Motors, we want to be part of the solution. Our goal is to create 1,500 jobs at our plant in Shreveport, Louisiana. Eventually, we have the potential to indirectly create more than 20,000 jobs through our retail centers and supplier partners. Creating jobs is one of the main drivers of the Elio project, and we work every single day to create new opportunities for American workers.
Not only does the recent news impact workers, but it also impacts the American car buyer. As more and more auto manufacturers are turning their attention to SUVs and trucks, there will soon be a void in the commuter vehicle market. We believe that there will always be a need and market for an affordable, safe, and high-mileage vehicle. Our plan is to fill that space in the market that other manufacturers are quickly leaving open.
We are sincerely appreciative of your support and wish you a fantastic weekend!