Huge subsidy of $1.7 billion-U.S. Government Announces the Shortlist of Domestic Manufacturing Conversion Grant Program
Jul 12, 2024 16:02
The U.S. Department of Energy has announced the shortlist for the Domestic Manufacturing Conversion Grant Program, allocating US$1.7 billion to convert 11 automotive plants across eight states for electric vehicle production. Key beneficiaries include Blue Bird Body Company, General Motors, and Fiat-Chrysler etc, aiming to bolster the North American EV industry and protect jobs. The initiative, influenced by the Inflation Reduction Act, also aims to support struggling auto plants and politically significant regions.