The Biden administration announced plans to award nearly $1.1 billion in grants to General Motors and Stellantis, the parent company of Chrysler, to convert existing plants for electric vehicle (EV) production and components. These grants are part of a larger $1.7 billion package intended to fund the conversion of 11 plants in eight states, with the goal of producing 1 million EVs annually, retaining 15,000 jobs, and creating 3,000 new positions.
General Motors will receive $500 million to convert its Lansing Grand River Assembly Plant in Michigan for EV production. Stellantis will receive $334.8 million to convert the shuttered Belvidere Assembly plant in Illinois to build EVs and $250 million to convert its Indiana Transmission Plant in Kokomo to produce EV components.
The grants are seen as a significant step in the Biden administration’s efforts to accelerate the transition to EVs in the United States. They are part of a broader strategy to revitalize American manufacturing and create jobs in the automotive sector. The awards are particularly significant for the auto industry in states considered pivotal in the upcoming presidential election.
The final amounts and terms of the grants are still subject to negotiations and environmental reviews.