(The Center Square) – Three Southeastern states have launched a regional research project on automobile and battery production, hoping to further develop those industries in the region and create more jobs.

Mississippi-Alabama-Georgia Network for Evolving Transportation, colloquially to be known as MAGNET, was launched Wednesday.

“In 2023, our three states collectively built 1.9 million cars – further establishing us as national leaders in auto manufacturing,” Alabama Gov. Kay Ivey said. “With virtually every auto manufacturer across the globe actively electrifying their fleets, we must position ourselves at the forefront of this transformation.”

The project will be headquartered at the University of Alabama. The partnership includes the University of Georgia and Mississippi State University and power companies in all three states.

“As the auto industry continues to evolve, it will be important for us to adapt and tackle the opportunities and challenges created by this emerging industry,” Georgia Gov. Brian Kemp said in a statement. “This partnership will play a key role in positioning our states to meet those challenges and maintain our region’s position as the best place to manufacture automobiles.”

The project is one of 29 semifinalists in a National Science Foundation Regional Innovative Engines competition, according to a release. That program was launched to encourage regional collaboration in research and technology development.

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Winners of the competition are eligible for up to $160 million in federal research funding. The awards are expected to be announced later this year and depend on Congress appropriating the funds, according to the National Science Foundation website.

“Companies across the world are investing billions of dollars into their electric fleets, and we need to be able to make the case that those vehicles should be built here,” Mississippi Gov. Tate Reeves said in a statement. “By bringing together the collective resources and assets of our three states, this partnership will put us at the front of the pack nationally when it comes to innovation in the EV space. This forward-thinking approach will mean jobs and opportunity for countless Mississippi families.”