U.S. Pushes $1.7 Billion in Grants for Electric Vehicle Plant Conversions

The U.S. Department of Energy is finalizing $1.7 billion in grants to convert plants for electric vehicle production. Key beneficiaries include General Motors and Stellantis. The transition has raised concerns among auto workers about job security and political tensions surrounding federal investments in EV technology.

U.S. Energy Secretary Jennifer Granholm announced that the Department of Energy is racing to finalize $1.7 billion in grants aimed at converting automotive plants to electric vehicle (EV) production.

The department plans to allocate funds to manufacturers like General Motors, which is set to receive $500 million, and Stellantis, with $584.8 million earmarked for conversions at various facilities.

Amidst political and labor challenges, the Biden administration emphasizes robust commitment to supporting EV initiatives, underscoring its strategic role in bolstering the U.S. as a leader in the global automotive market.

(With inputs from agencies.)