WASHINGTON: The Biden administration is making US$12 billion available in grants and loans for automakers and suppliers to retrofit plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm told reporters on Thursday .
Speeding grants and other subsidies to fund conversion of existing auto plants to build electric vehicles could help the White House blunt criticism from automakers and the United Auto Workers union over proposed environmental rules aimed to help usher in the EV era. Last week UAW members voted overwhelmingly in favor of authorizing a strike at the Detroit Three automakers if an agreement over wages and pension plans is not reached before the current four-year contract expires on Sep 14.
UAW President Shawn Fain has campaigned to save a Jeep factory in Belvidere, Illinois, that Stellantis has put on track to shutter. The automaker has left open the possibility that the factory could get a new product with government aid.