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electric vehicles

U.S. Offers $12 Billion to Help Auto Industry Prepare for EVs

By
Scott Thurm
· · Source: Bloomberg

The Biden administration is offering $12 billion in grants and loans for auto makers and suppliers to retrofit their plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm said on Thursday. The funding comes amid tense negotiations between Detroit auto companies and the United Auto Workers, which has raised concerns the transition to EVs may threaten union...

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