The Biden administration is offering automakers and their suppliers $12 billion in grants and loans to convert their auto plants to making electric vehicles to satisfy labor unions.
Energy Secretary Jennifer Granholm announced on Aug. 31 that the administration wants to accelerate the industry’s transition to non-gas-powered vehicles.The White House hopes these grants and subsidies to fund the conversion of existing plants to build EVs, will ease harsh criticism from automakers and the United Auto Workers (UAW) in recent months.
