The Biden administration is awarding nearly $2 billion in grants from the Inflation Reduction Act to General Motors, Stellantis and other carmakers to help restart or expand electric vehicle manufacturing and assembly sites in eight states.
General Motors and three other Michigan automotive companies are getting the lion's share of the grant package. The grants are meant to address the slowing transition to electric vehicles in the U-S and China's push for EV dominance, and were awarded to companies that promised to retain union jobs at the affected plants.
“Building a clean energy economy can and should be a win-win for union autoworkers and automakers,'' President Joe Biden said in a statement. “This investment will create thousands of good-paying, union manufacturing jobs and retain even more — from Lansing, Michigan to Fort Valley, Georgia — by helping auto companies retool, reboot and rehire in the same factories and communities.''
GM said Thursday that its $500 million federal grant will help the company convert an assembly plant in Lansing, Michigan to produce EVs.
Stellantis will receive $585 million dollars to convert plants to EV production outside the state of Michigan. A Michigan based Volvo truck plant and ZF Group auto parts manufacturer will also receive funding.
Recipients must match the grants with their own funds.
