The Biden administration plans to award GM and Chrysler-parent Stellantis nearly $1.1 billion in grants to convert existing plants to build EVs and components. The Department of Energy 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, help retain 15,000 existing jobs, and create 3,000 new positions.
Energy Secretary Jennifer Granholm told reporters it had become clear more than a decade ago that automakers, to embrace the future, “needed a federal partner especially to compete with other countries who were subsidizing their auto industries and that’s what this massive investment is all about.” The awards are for plants in Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland, and Virginia.
