Biden's $1.7 Billion Initiative to Transform Auto Plants into EV Factories
The Biden administration has unveiled a $1.7 billion program aimed at converting 11 struggling or closed auto manufacturing plants in 8 states into facilities for producing electric vehicles. This initiative will not only help in retrofitting the plants for EV production but also generate new job opportunities in the unionized auto industry.
Car manufacturers like General Motors, Fiat Chrysler, and Harley Davidson, as well as suppliers including American Auto Parts, are expected to benefit from this funding, which is set to create around 2,900 new jobs and save 15,000 existing jobs that were at risk.
The grants will play a crucial role in reinvigorating the electric vehicle sector in the U.S. and fostering sustainable manufacturing practices.
The press radar on this topic:
Biden Offers $1.7 Billion to Help Factories Build Electric Vehicles
Automakers set to benefit from Biden's latest EV initiative TheStreet Daily Newsletter
Electric Vehicle Makers Will Share $1.7 Billion to Boost U.S. Manufacturing
Welcome!
![InfoBud.ai](https://ik.imagekit.io/enm51urx3/static/infobud-world-news-300.jpg)
infobud.ai is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand