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Biden administration awards car factories $1.7 billion so they can build EVs

The US Energy Department has revealed that it's awarding car and auto parts factories in eight states a total of $1.7 billion in funding, so that they can be retooled to build electric vehicles and their components.

The US Energy Department has revealed that it's awarding car and auto parts factories in eight states a total of $1.7 billion in funding, so that they can be retooled to build electric vehicles and their components. According to The New York Times and The Washington Post, the money will come from President Biden's Inflation Reduction Act, which provides subsidies to EV and battery plants, as well as the $7,500 tax credits consumers can get if they buy an electric vehicle. "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," Biden said in a statement.

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