Biden Admin To Spend Billions On Retrofitting Plants To Help Reach EV Dreams

by: Nick Pope
2023-08-31
Source: Daily Caller
08/31/2023

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The Biden administration is making $12 billion in taxpayer funds available for car manufacturers to retrofit their plants to produce electric vehicles (EVs) and hybrids, the White House announced Thursday.

The funding opportunities will be available as loans and grants to major auto manufacturers through the Department of Energy (DOE), according to a DOE press release issued Thursday. EVs are a key pillar of President Joe Biden’s broader climate agenda, as his administration aims to have EVs make up at least 50% of all new car sales by 2030 to reduce America’s overall carbon dioxide emissions.

“As I’ve said before, under Bidenomics building a clean energy economy can and should provide a win‑win opportunity for auto companies and unionized workers who have anchored the American economy for decades,” Biden said Thursday, according to a White House press release. “This funding from my Investing in America agenda will further that goal by creating auto manufacturing jobs here at home and helping companies avoid painful plant closings — and to retool, reboot, and rehire in the same factories and communities with high wages.” (RELATED: ‘Poverty Level’: United Auto Workers President Slams Biden Over EV Goals)

Poll: Voters Oppose Biden’s Plan To Ban Gas Vehicles https://t.co/leWj4UsDkP
— Daily Caller (@DailyCaller) October 8, 2022

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