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.