White House To Offer $1.7 Billion For U.S. EV Manufacturing
The funding comes as growth in new electric vehicle sales has slowed and many facilities have been closed down or at-risk.
The Biden administration announced plans to offer $1.7 billion to assist in funding auto manufacturing and assembly facilities that make electric and hybrid vehicles.
The funding comes as growth in new electric vehicle sales has slowed and many facilities have been closed down or at-risk.
The project is expected to create an estimated 2,900 new jobs and save 15,000 jobs that were on the verge of being lost.
The administration wants to keep U.S. EV manufactures competitive with a surging Chinese industry.
The funding announcement highlights the White House’s industrial strategy which is to bring manufacturing jobs back to America after years of offshoring.
