The U.S. Department of Energy (DOE) announced a $50 million investment on Thursday, Aug. 15, to assist small- and medium-sized auto suppliers in adapting their manufacturing facilities for electric vehicles (EVs). This initiative spans across six different states. It aims to support suppliers in transitioning from conventional vehicle parts production to those required for the growing EV market.
“Today’s announcement will create and retain hundreds of good-paying, high-quality union jobs and support the American auto communities that have driven the U.S. economy for generations,” the Biden administration said in a statement.
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This funding is part of a broader $2 billion allocation from the Inflation Reduction Act designed to help the U.S. automotive industry shift its manufacturing operations to support the transition to electric vehicles.
“Under President Biden and Vice President Harris’ leadership, America’s auto communities and the workforces they support finally have the tools they need to compete and thrive in the 21st century clean energy economy,” U.S. Secretary of Energy Jennifer Granholm said. “By helping states and manufacturers navigate the emerging EV manufacturing industry, today’s announcements will help ensure the workforces that defined America’s auto sector for the last 100 years will have the opportunity to shape the next 100 years.”
In addition to the $50 million investment, the DOE also announced $1.5 million in funding to develop a playbook for traditional car suppliers. This resource is intended to guide companies that are considering entering the EV market, providing them with the information and strategies needed to successfully make the transition.
[JACK AYLMER]
THE FEDERAL GOVERNMENT IS TRYING TO HELP AUTO SUPPLIERS MAKE MORE PARTS FOR ELECTRIC VEHICLES.
ON THURSDAY THE ENERGY DEPARTMENT ANNOUNCED A 50 MILLION DOLLAR INVESTMENT TOWARDS THIS EFFORT-
AIMED AT HELPING SMALL- AND MEDIUM-SIZED SUPPLIERS ACROSS SIX DIFFERENT STATES ADAPT THEIR MANUFACTURING FACILITIES FOR EVS.
THIS FUNDING COMES FROM A PROVISION WITHIN THE INFLATION REDUCTION ACT-
WHICH ALLOCATED TWO BILLION DOLLARS TOWARDS HELPING THE U.S. AUTOMOTIVE INDUSTRY CONVERT MANUFACTURING OPERATIONS FOR THE EV TRANSITION
WITH THIS ANNOUNCEMENT, THE D-O-E ALSO REVEALED ADDITIONAL GOVERNMENT SPENDING ON EVS.
PUTTING ONE AND HALF MILLION DOLLARS TOWARDS THE CREATION OF A PLAYBOOK FOR CONVENTIONAL CAR SUPPLIERS TO REFER TO IF THEY DECIDE TO GO ELECTRIC.
THE BIDEN ADMINISTRATION SAID THESE INITIATIVES WILL HELP CREATE AND MAINTAIN HUNDREDS OF HIGH-PAYING, UNION JOBS IN TRADITIONAL AUTO COMMUNITIES.
WE’VE BEEN FOLLOWING THE RECENT PUSH BY THE WHITE HOUSE TO GET MORE MONEY FROM LEGISLATION THAT FUNDS RENEWABLE ENERGY INITIATIVES SPENT BEFORE PRESIDENT BIDEN’S TERM EXPIRES.
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