GM and Stellantis to receive over $1 billion from Biden administration for EV projects
General Motors (GM) and Stellantis are poised to receive over $1 billion from the Biden administration to support the automakers’ electric vehicle projects. These include $500 million for GM’s Lansing Grand River Assembly plant in Michigan, $334.8 million for Stellantis’ Belvidere Assembly facility in Illinois, and $250 million for Stellantis’ planned EV drive module plant in Indiana.
As noted in an Automotive News report, the US federal government would be contributing $1.7 billion to electric vehicle-related initiatives in eight states. The projects are expected to create over 2,900 jobs and retain 15,000 highly skilled union workers, the US Department of Energy (DoE) noted. The facilities that would be supported by the grant are located in Michigan, Indiana, Illinois, Pennsylvania, Ohio, Virginia, Maryland, and Georgia.
The US DoE noted that the Domestic Manufacturing Auto Conversion Grants, which are designed to help automakers switch from the production of combustion-powered vehicles to electric cars, are funded through the Inflation Reduction Act. The grants are intended to support the production of electric vehicles, hybrids, plug-in hybrids, and hydrogen fuel cell vehicles.
Energy Secretary Jennifer Granholm noted that the grants could allow US automakers to compete with foreign competitors.
“There is nothing harder to a manufacturing community than to lose jobs to foreign competition and a changing industry. Even as our competitors invest heavily in electric vehicles, these grants ensure that our automotive industry stays competitive — and does it in the communities and with the workforce that have supported the auto industry for generations,” Granholm noted.
John Podesta, Senior Advisor to the President for International Climate Policy, welcomed the grant.
“President Biden set out to build a clean energy economy that benefits everyone. Today’s awards from the Department of Energy help bring that vision to life by investing in the future of the auto industry, creating thousands of good-paying union jobs, and tackling the existential threat of climate change by cutting pollution from the transportation sector,” Podesta stated in a press release.
US President Joe Biden also shared his optimism about the DoE’s grants.
“Building a clean energy economy can and should be a win-win for union autoworkers and automakers,” Biden noted.
Following is a list of recipients for the US Department of Energy’s electric vehicle grants.
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Source: https://www.teslarati.com/gm-stellantis-over-1-billion-grant-us-doe-ev-projects/
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