Race to Electrify: U.S. Accelerates EV Plant Conversions

The U.S. Department of Energy, led by Secretary Jennifer Granholm, is expediting $1.7 billion in grants to transform automotive plants for electric vehicle production. Despite setbacks sparked by United Auto Workers’ strike threats, the initiative aims to strengthen America's position in the global EV market.

U.S. Energy Secretary Jennifer Granholm emphasized the Department of Energy's urgency in finalizing $1.7 billion in grants to convert manufacturing plants for electric vehicles and their components. Speaking at a Reuters Next conference, Granholm stated efforts are underway to meet contract commitments swiftly.

The DOE previously announced substantial investments in General Motors and Stellantis facilities. While General Motors awaits grant negotiation outcomes for its Michigan plant, Stellantis faces United Auto Workers' strike threats over stalled proposed investments, leading to legal actions to avert work stoppages.

Amid political tensions, UAW President Shawn Fain warned that job security could be compromised should Republican candidate Donald Trump repeal EV investments after a potential election win. The current administration's strategy is to bolster next-gen vehicle manufacturing through strong government-industry collaboration.

(With inputs from agencies.)