CNN —The White House on Thursday said it would hand out $1.7 billion to help convert closed-down or at-risk auto manufacturing and assembly facilities to make electric and hybrid vehicles.
The funding comes as growth in new electric vehicle sales has slowed, even as the Biden administration wants to keep US EV manufacturers competitive with a surging Chinese industry.
“This announcement is a hallmark of the Biden administration’s industrial strategy, which is a strategy to bring manufacturing jobs back to America after years of offshoring,” Energy Secretary Jennifer Granholm told reporters.
The plants also include facilities from vehicle component manufacturing to full vehicle assembly, according to a senior administration official.
The move comes as the growth rate of EV sales has slowed even as total EV sales have continued to rise.
Persons:
Biden, Joe Biden, Jennifer Granholm
Organizations:
CNN, Biden, ”, Department of Energy, autoworkers, GM, Volvo, American, Ford
Locations:
China, America, Michigan, Pennsylvania, Lansing , Michigan, Fort Valley , Georgia