Rep. August Pfluger, R-Texas, reacts to anti-Israel protests on July 4 and Biden’s recent oil stockpile sale.
of The Biden administration on Thursday announced that the Department of Energy will provide $1.7 billion in funding to convert 11 auto manufacturing and assembly plants that are closed or at risk of closing to produce electric vehicles or their supply chain components.
Funding will flow to facilities in eight states — Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland and Virginia — a list that includes some hotly contested states that will go to the November election.
“There is nothing more difficult for a manufacturing community than to lose jobs to foreign competition and a changing industry.” Energy Secretary Jennifer Granholm said in a statement.
“Even as our competitors invest heavily in electric vehicles, these grants ensure our auto industry remains competitive — and does so in the communities and workforce that have supported the auto industry for generations,” she added.
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The $1.7 billion in funding will support the retooling of auto manufacturing plants to support EVs and related auto parts. (Michael Tercha/Chicago Tribune/Tribune News Service via Getty Images / Getty Images)
The $1.7 billion in funding for the initiative was provided under the Inflation Reduction Act, a package approved by the Democrats on a party-line vote in 2022 that contained incentives and subsidies for electric vehicles and climate projects among a number of other provisions.
The grants will finance the facilities that produce them auto parts for electric motorcycles and school buses, hybrid engines, heavy commercial truck batteries and EVs.
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The $1.7 billion in funding will support the renovation of auto manufacturing plants to support electric vehicles and related auto parts. (Steve Fecht/General Motors via Getty Images/Getty Images)
Companies that will receive funding through this initiative include:
- General Motors for EV at Lansing, Michigan
- Harley-Davidson for EV motorcycles at York, Pennsylvania
- Volvo to convert commercial gas-powered trucks to electric in Macungie, Pennsylvania, Dublin, Virginiaand Hagerstown, Maryland
- Fiat-Chrysler for converting its Belvidere assembly plant in Illinois to an EV assembly plant; a transmission plant in Kokomo, Indianain an electrical plant
- Cummins to convert a manufacturing plant in Columbus, Indiana, to accommodate zero-emission components and electric motors
- Blue Bird Body Company to convert EV bus production to Fort Valley, Georgia
- American Autoparts for converting an auto plant to produce EVs and a battery system plant Toledo, Ohio
- ZF North America to convert a facility to manufacture EV components in Marysville, Michigan
| TICKER | Safety | The last | AmENdmENT | change % |
|---|---|---|---|---|
| HOG | HARLEY-DAVIDSON INC. | 34.03 | +1.78 | +5.52% |
| GM | GENERAL MOTORS CO. | 47.89 | +1.38 | +2.97% |
| CMI | CUMMINS INC. | 280.04 | +5.95 | +2.17% |
| STLA | STELLANTIS NV | 20.27 | +0.17 | +0.85% |
| VLVLY | VOLVO AB | 25.56 | +0.29 | +1.15% |
The administration’s announcement comes as President Biden faces increasing scrutiny over his ability to remain so Democratic Party presidential candidate due to concerns about his health and mental acuity in the wake of last month’s presidential debate.
President Biden signed the Inflation Reduction Act of 2022, which provided funding for this initiative. (Allen J. Schaben/Los Angeles Times via Getty Images/Getty Images)
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Amidst the controversy, Biden’s campaign and White House have said the president intends to stay in the race, and Biden himself has vowed that he is “all in” to continue.