Electric Vehicles (EV) Industry: The Future of Southern California
This week we reported about the Karma Innovation and Customization Center (KICC) in Moreno Valley, a dedicated space for EV manufacturing and innovation by Karma Automotive.
Southern California, especially the Inland Empire region, will emerge as the EV hotbed. With 40K EVs, the IE region ranked 10th best in EV adoption, as we reported last month. Now the innovation center we reported this week has already helped Karma automotive ink a deal with AYRO, an EV maker. Both companies are set to manufacture 20K electric vehicles worth $300 million through 2023.
Retail Sector Heats Up
Amazon Fresh grocery store is coming to Murrieta, CA, and Walmart is hiring 20K employees nationwide. Walmart has already kickstarted its hiring, holding job fairs across the country.
This gives the idea that retail is one industry that’s not showing any sign of slowing down. And that’s good for associated industries like distribution and logistics.
Housing in the Riverside County
We reported that on Oct 5, 2021, The Riverside City Council voted 5-2, approving a plan that allows the county to add more than 20k houses, townhomes, and apartments by the end of 2030. However, local communities oppose new housing plans citing the environment and scarce water resources as reasons not to pursue housing projects in their localities.
Nonetheless, Riverside needs more housing, and that is too affordable.
ARPA Funding for Non-Profits in the Riverside County
We reported that under the America Rescue Plan Act (ARPA), the County of Riverside has set aside $1 million in direct assistance to eligible non-profits of the county.
Lastly, we covered OASIS (Opportunities to Advance Sustainability, Innovation, and Social Inclusion), an innovation park by the University of California, Riverside.
Upcoming Meetups & Meetings.
- FACE 2 FACE – in-person – Robot Meeting! – Sat Oct 16: Link https://www.meetup.com/The-Riverside-Robotics-Society/events/280958876/
- The Idea Exchange – Wed OCT 12: Link https://www.meetup.com/theideaexchange/events/280778787/
Conferences & Festivals
- Riverside Angel Summit Until Nov 3
* Semi-Finalists will be giving their pitches on Oct 19 – 20
* Investors Select Finalists (“F”) on Oct 22
2. Upcoming: FTR FST Nov 12 | https://ftrfst.com/
– Tickets on Sale This Week Join The Email List to stay updated
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