CBT News’ Post

The Biden administration plans to award General Motors and Chrysler-parent Stellantis nearly $1.1 billion in grants to convert existing plants to build electric vehicles and components. The Department of Energy (DOE) announced $1.7 billion in planned grants to help fund the conversion of 11 "at risk" plants in eight states. This will enable the production of 1 million EVs annually, help retain 15,000 existing jobs, and create 3,000 new positions. https://lnkd.in/g2vREtD6 #ev #electricvehicles

The US department of energy is racing to finalise $1.7 billion in grants to convert existing plants for EV production. Energy Secretary Jennifer Granholm emphasised the urgency, saying they’re working "as fast as we can" to secure commitments and drive the transition to EVs. Major players like General Motors and Stellantis are set to benefit from these grants, which will support conversions of plants in Michigan, Indiana and Illinois. However, the path isn’t without hurdles as UAW has threatened strikes over investment delays and political challenges loom with debates about the future of EV funding. The Biden administration remains steadfast, signalling a strong industrial strategy to make the US a leader in next-gen vehicle production. Granholm’s bold words say it all: “We are not just bringing a knife to a gunfight. We are bringing an armada now." As the auto industry races towards electrification, the stakes are high, not just for automakers but for the thousands of workers whose jobs will be reshaped by this shift. The speed at which these grants are finalised will play a crucial role in determining the US's ability to set the pace for global EV production. #automotiveindustry #automotive #automotivenews #EV #electricvehicles #autonews #automakers

🚗⚡ Big news EV manufacturing as more U.S. Department of Energy (DOE) funding makes its way to companies accelerating the #energytransition. The Biden-Harris Administration just announced nearly $2 billion to support the conversion of 11 auto manufacturing facilities across 8 states for electric vehicle production. Key projects include: General Motors: $500M for Lansing Grand River Assembly Plant conversion Stellantis: $335M to reopen Belvidere Assembly Plant for EV production Volvo Group: $208M to upgrade facilities for Mack and Volvo electric trucks Harley-Davidson Motor Company: $89M for EV motorcycle manufacturing in York, PA 📢 Does your company need help navigating financing options for the energy transition? Reach out to Energy Transition Finance for expert guidance on finding the funding to commercialize #decarbonization solutions: https://hubs.la/Q02GcH0g0 #EVs #Manufacturing #CleanEnergy #AmericanJobs #EnergyTransition

The U.S. Department of Energy (DOE) has unveiled a $50 million grant program aimed at supporting six states with noteworthy automotive workforces in their transition to electric vehicle (EV) manufacturing. According to the DOE, it is a part of the Biden administration’s Investing in America agenda, which seeks to help small and medium-sized suppliers adapt their plants to serve the growing EV supply chain. https://lnkd.in/g_32xzKt #EVSupplyChain #ElectricVehicles

🚗⚡ Big news EV manufacturing as more U.S. Department of Energy (DOE) funding makes its way to companies accelerating the #energytransition. The Biden-Harris Administration just announced nearly $2 billion to support the conversion of 11 auto manufacturing facilities across 8 states for electric vehicle production. Key projects include: General Motors: $500M for Lansing Grand River Assembly Plant conversion Stellantis: $335M to reopen Belvidere Assembly Plant for EV production Volvo Group: $208M to upgrade facilities for Mack and Volvo electric trucks Harley-Davidson Motor Company: $89M for EV motorcycle manufacturing in York, PA 📢 Does your company need help navigating financing options for the energy transition? Reach out to Energy Transition Finance for expert guidance on finding the funding to commercialize #decarbonization solutions: https://hubs.la/Q02Gcm5G0 #EVs #Manufacturing #CleanEnergy #AmericanJobs #EnergyTransition

Modernizing legacy assets that were built to manufacture internal combustion engines to help them transition to EV manufacturing is critical to reskilling the existing workforce and maintaining the economic viability of communities across the country. #EnergyTransition #JustTransition #SustainableDevelopment #GreenJobs #EVManufacturing

Boosting the production of electric vehicles and jobs in the USA The Biden administration plans to award General Motors and Chrysler-parent Stellantis nearly $1.1 billion in grants to convert existing plants to build electric vehicles and components. The U.S. Department of Energy (DOE) announced $1.7 billion in planned grants to help fund the conversion of 11 "at risk" plants in eight states to enable the production of 1 million EVs annually, retain 15,000 existing jobs, and create 3,000 new positions. President Joe Biden has pushed U.S. automakers to assemble more EVs, introduced new tax incentives, and funded EV charging stations. Regulators have issued stricter emissions rules that will boost EV sales. General Motors will receive $500 million to convert its Lansing Grand River Assembly Plant in Michigan to EVs. Stellantis will receive $584.8 million to convert its plants to build EVs and components. Other companies, such as Hyundai MOBIS, Harley-Davidson Motor Company, Blue Bird Corporation, Cummins Inc., Volvo Group, and ZF North America Capital Inc., will also receive grants for EV-related initiatives. The DOE must still complete negotiations with companies on milestones and requirements before the awards are finalized. #ev #funding #usa #carmanufacturer #assemblyplant #automaker #automotiveindustry #transportation #co2emission #cleanmobility https://lnkd.in/eMvPYjA8

Did you know that 90% of manufacturing in the US is done by small and medium businesses? #MESC is partnering with the states that have the highest concentrations of small and medium #automotive #manufacturers to invest in those businesses' transition toward making components for #hybrid, #electric, and #fuelcell vehicles. Check out Sec. Jennifer Granholm talking about our program, made possible by the #InflationReductionAct, on CBS News. https://lnkd.in/eHEyEhrC

Stellantis has partnered with Zeta Energy to produce lithium-sulfur batteries for EVs that will be half the price of the lithium-ion batteries commonly seen in EVs today.

A step in the right direction