US to Give Automakers, Suppliers $12B to Produce EVs

[1srelluc]

https://www.newsmax.com/finance/streettalk/automaker-supplier-ev-subsidies/2023/08/31/id/1132762/

The United States is making $12 billion available in grants and loans for automakers and suppliers to retrofit their plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm told reporters Thursday.

The Biden administration will also offer $3.5 billion in funding to domestic battery manufacturers, Granholm said.

For the advanced vehicles, $2 billion of the funding will come from the Inflation Reduction Act which Democrats passed last year, and $10 billion will come from the Energy Department's Loans Program Office, Granholm said.

Speeding grants and other subsidies to fund conversion of existing auto plants to build electric vehicles could help the White House blunt criticism from automakers and the United Auto Workers (UAW) union over proposed environmental rules aimed to help usher in the EV era.

Command economy much?

Now you tell me that car manufacturers aren't working for the .gov.....You should want what .gov wants.....Right?

My magic 8-Ball says that Tesla, you know, the only U.S. company to actually be able to manufacture shit-tons of electric cars, and sell them at a bit of a profit, will get exactly ZERO dollars from this administration, because Elon Musk refuses to bow to the UAW.

 

[jbrownson0831]

https://www.newsmax.com/finance/streettalk/automaker-supplier-ev-subsidies/2023/08/31/id/1132762/

The United States is making $12 billion available in grants and loans for automakers and suppliers to retrofit their plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm told reporters Thursday.

The Biden administration will also offer $3.5 billion in funding to domestic battery manufacturers, Granholm said.

For the advanced vehicles, $2 billion of the funding will come from the Inflation Reduction Act which Democrats passed last year, and $10 billion will come from the Energy Department's Loans Program Office, Granholm said.

Speeding grants and other subsidies to fund conversion of existing auto plants to build electric vehicles could help the White House blunt criticism from automakers and the United Auto Workers (UAW) union over proposed environmental rules aimed to help usher in the EV era.

Command economy much?

Now you tell me that car manufacturers aren't working for the .gov.....You should want what .gov wants.....Right?

My magic 8-Ball says that Tesla, you know, the only U.S. company to actually be able to manufacture shit-tons of electric cars, and sell them at a bit of a profit, will get exactly ZERO dollars from this administration, because Elon Musk refuses to bow to the UAW.

No grid to support any of this

 

[DGS49]

I think they are subsidizing the wrong end of the chain. The NRC has made commercial nuclear power so expensive that it is no longer feasible in states where electric power is non-regulated. Hence, we have NO full-size reactors even on the drawing board right now. And while I believe that all of this is unconstitutional to start with, if the Feds want to do something constructive, they should work to make nuclear power affordable to utilities so that there will be enough of it when half the country transitions away from ICE vehicles.

 

[Moonglow]

https://www.newsmax.com/finance/streettalk/automaker-supplier-ev-subsidies/2023/08/31/id/1132762/

The United States is making $12 billion available in grants and loans for automakers and suppliers to retrofit their plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm told reporters Thursday.

The Biden administration will also offer $3.5 billion in funding to domestic battery manufacturers, Granholm said.

For the advanced vehicles, $2 billion of the funding will come from the Inflation Reduction Act which Democrats passed last year, and $10 billion will come from the Energy Department's Loans Program Office, Granholm said.

Speeding grants and other subsidies to fund conversion of existing auto plants to build electric vehicles could help the White House blunt criticism from automakers and the United Auto Workers (UAW) union over proposed environmental rules aimed to help usher in the EV era.

Command economy much?

Now you tell me that car manufacturers aren't working for the .gov.....You should want what .gov wants.....Right?

My magic 8-Ball says that Tesla, you know, the only U.S. company to actually be able to manufacture shit-tons of electric cars, and sell them at a bit of a profit, will get exactly ZERO dollars from this administration, because Elon Musk refuses to bow to the UAW.

Energy Policy Act of 2005The Energy Policy Act (EPAct) of 2005 (Public Law 109-58 ) calls for the development of grant programs, demonstration and testing initiatives, and tax incentives that promote alternative fuels and advanced vehicles production and use.

Key Federal Legislation - Alternative Fuels Data Center​

 

[1srelluc]

I'm sure that 12B will make the 92-day supply of EVs that already can't be sold move faster.....Right?

We are slipping more and more into a centralized command economy.

 

[JGalt]

I see many more mysterious garage fires in our future.

 

[Toddsterpatriot]

No grid to support any of this

No demand from consumers either.