New York (CNN)The US Department of Energy said Thursday it plans to fuel the auto industry’s transition to electric vehicles with $12 billion in loans and grants.
Hard on the heels of President Joe Biden’s goal to spur the sale of EVs in the United States, the Energy Department will provide $2 billion in grants and $10 billion in loans to support the conversion of US automaker and supplier facilities into manufacturing centers for hybrid and electric vehicles.
The program aims to build or refurbish factories in communities with existing auto manufacturing facilities and to bolster the domestic EV supply chain.The […]
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