"US Government Commits $15.5 Billion to Accelerate Electric Vehicle Transition and Revitalize Auto Industry"

The Biden-Harris Administration has announced a $15.5 billion package of funding and loans to support the transition to electric vehicles (EVs) in the United States. The funding includes grants and loans for retooling existing factories, expanding domestic manufacturing of batteries for EVs, and supporting the domestic supply chain. The aim is to retain and create high-paying manufacturing jobs while promoting equity and environmental justice. The funding opportunities will prioritize projects that retain collective bargaining agreements, pay high wages, and contribute to the President's Justice40 Initiative. The investments align with President Biden's commitment to building a clean energy economy and enhancing national security.