The President of the United States, Joe Biden, announced that he will grant 1.7 billion dollars in subsidies to the automotive industry so that it can develop its production lines for electric vehicles, as well as parts or auto parts such as batteries.
According to an AFP report, the subsidies will go to a dozen closed or threatened factories located in eight different states.
These concessions, which are part of the Inflation Reduction Act, a flagship plan of President Biden, will particularly target companies located in the states of Georgia, Michigan and Pennsylvania.
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Highlights
The Biden administration’s goal is to retrain them to produce electric vehicles or their parts, which should save or create 15,000 jobs, according to a statement issued by the White House.
This plan could prove decisive for next November’s elections, which will pit Biden against his Republican predecessor Donald Trump (2017-2021).
The statement stresses that the investments will create thousands of well-paying jobs and retain even more, helping companies in the sector to adapt their industrial equipment and rehire in the same factories and in the same communities.
State Policy
The current White House administration has been known for promoting electromobility initiatives. This year it announced the approval of 46.5 million dollars for 30 projects in 16 states to boost electric vehicle (EV) charging infrastructure.
Another goal is to support equitable access to clean transportation solutions and increase the clean energy workforce.
Among the important measures of Joe Biden’s administration is to build a nationwide network of 500,000 public EV charging ports and achieve net zero emissions by 2050.
