Biden Proposes $1.7 Billion Investment to Boost Electric Vehicle Manufacturing

Money | July 11, 2024, 9:33 p.m.

The Biden administration has announced a $1.7 billion grant for car and auto parts factories in eight states to begin producing electric vehicles and clean energy technology. This initiative aims to create jobs and address concerns about the impact of electric vehicles on the automotive industry. Among the recipients are a Jeep factory in Illinois that will reopen, a Georgia factory making electric school buses, a General Motors factory in Michigan transitioning to electric vehicles, and a Harley-Davidson factory in Pennsylvania increasing electric motorcycle production. The funding requires companies to retrain workers, ensuring a smooth shift from gasoline-powered vehicles to electric ones. This investment signifies a significant step towards a more sustainable automotive industry while revitalizing manufacturing in these states.