Biden Administration to Inject $1.1 Billion into GM and Stellantis for Electric Vehicle Conversions, Supporting Over 15,000 Jobs

Benzinga

The US Department of Energy plans to award $1.1 billion in grants to General Motors and Stellantis to convert existing plants to electric vehicle production. The grants are aimed at supporting over 15,000 existing jobs and creating 3,000 new jobs in auto manufacturing plants across 8 states. GM is set to receive funding to transition its Lansing Grand River plant in Michigan for future electric vehicle production. Stellantis and other companies such as Harley-Davidson, Blue Bird, Cummins, and Volvo Group also receive grants to convert and upgrade their facilities across various states.

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00:00It's Benzinga, and here's what's on the block.

00:02The U.S. Department of Energy plans to award $1.1 billion in grants to General Motors and

00:07Stellantis to convert existing plants to electric vehicle production.

00:11The grants are aimed at supporting over 15,000 existing jobs and creating 3,000 new jobs

00:16in auto manufacturing plants across eight states.

00:19GM is set to receive funding to transition its Lansing-Grand River plant in Michigan

00:24for future electric vehicle production.

00:26Stellantis and other companies such as Harley-Davidson, Bluebird, Cummins, and Volvo Group are also

00:31receiving grants to convert and upgrade their facilities across various states.

00:35For all things money, visit Benzinga.com.

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