Biden's Energy Department to help fund EV factory updates as issue percolates in UAW talks

The Biden Administration will make $12 billion available in grants and loans for car and truck manufacturers and suppliers to retrofit factories to produce electric vehicles and other advanced makes, Energy Secretary Jennifer Granholm announced Thursday.

Biden has set a target for half of all new vehicles sold in the U.S. in 2030 to be zero-emissions options, including battery electric TSLA, -0.03% GM, +0.74%, plug-in hybrid gas/electric TM, +2.24% or fuel-cell electric vehicles. Read: ‘I have a pension; they don’t’: Why United Auto Workers are fighting to end a two-tier system for wages and benefits

The UAW says the impending EV changes put union workers at a disadvantage. The UAW has warned that such a rapid change could put thousands of jobs in Michigan, Ohio, Illinois and Indiana, in particular, at risk.

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