Shuttered Auto Plants to Become EV Factories Thanks to $1.7 Billion Biden Program
The Biden administration announced a groundbreaking $1.7 billion initiative aimed at converting endangered or shuttered auto plants into electric vehicle (EV) manufacturing facilities. This move is set to breathe new life into eleven auto factories across eight states that are currently closed or at risk of closing, providing them the funding needed to retrofit their operations for EV manufacturing.
Stellantis’ idled Belvidere Assembly Plant is among the fortunate factories to benefit from this program, receiving a substantial $334 million in grant money to transform it into a state-of-the-art EV facility. Other factories covered under this initiative will produce a diverse range of EV-related goods, including parts for electric motorcycles and school buses, hybrid powertrains, heavy-duty commercial truck batteries, and electric SUVs, according to the White House.
In a statement, President Joe Biden emphasized the dual benefits of this investment, stating, “Building a clean energy economy can and should be a win-win for union autoworkers and automakers.”
source: https://www.theverge.com/2024/7/11/24195811/biden-ev-factory-retrofit-conversion-grant-funding
