TL/DR –
The Department of Energy has announced $1.7 billion in grants aimed at keeping open 11 ‘at-risk’ manufacturing plants and initiating electric vehicle (EV) production at these locations. The grants are part of the Domestic Conversion Grant Program and are part of the Inflation Reduction Act, which provided nearly $400 billion for climate-related initiatives. The 11 facilities chosen to receive the grants, which will reportedly retain and create tens of thousands of jobs, include plants and suppliers for Hyundai, Blue Bird, Cummins, Fiat-Chrysler, GM, Harley, Volvo, and ZF.
US Department of Energy Announces $1.7 Billion in Grant Awards for EV Manufacturing
To keep 11 “shuttered or at-risk” manufacturing plants open and promote EV production, the Department of Energy unveiled $1.7 billion in grant awards.
The selected plants are in 8 states and are part of the Domestic Conversion Grant Program, aimed at assisting the conversion to electric vehicle manufacturing.
Funded by the 2022 Inflation Reduction Act, the largest climate spending bill in history, the grants also support American EV manufacturing, with provisions for EVs and incentives for domestic production.
The selected facilities include plants for Hyundai, Blue Bird, Cummins, Fiat-Chrysler, GM, Harley, Volvo, and ZF, in states including Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland, and Virginia.
While contingent on meeting certain goals, these grants will help create and retain jobs, including 2,900 new jobs and 15,000 union jobs.
The White House asserts that this move will boost its “Justice40 Initiative,” directing 40% of climate spending towards disadvantaged communities.
Election Year Promises
This initiative comes in an election year, with voters deciding between a President investing in U.S. manufacturing of high-tech vehicles and a rival focused on offshoring jobs.
The Inflation Reduction Act also provides credits for rooftop solar installation. If you are interested in saving on energy bills, consider using EnergySage to find a reliable solar installer. Get started here.
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