The Biden administration is givingautomakers and suppliers nearly $2 billion to save at-risk or shuttered plants — if they convert them to serve the electric vehicle market.
Why it matters: The money, which comes via the 2022 climate law, is among the White House's most direct attempts to fuse manufacturing and climate policies.
And it can't be untethered from politics — some of the 11 facilities are in swing states, including Pennsylvania and Michigan.
Driving the news: Energy Department officials today unveiled preliminary decisions to provide a combined $1.7 billion to help with EV conversions and retooling projects across eight states for making EVs and related components.
Recipients include GM, Stellantis, Volvo and Harley-Davidson, plus suppliers like American Auto Parts.
By the numbers: Officials say the plan would enable production of over 1 million "electrified" light-duty vehicles and over 40,000 electrified trucks and buses annually.
What's next: The selections are subject to more negotiations, and funding would arrive in tranches when various milestones are met.
