President Joe Biden declares Detroit 'back' at EV-focused DetroitAutoShow2022
and Chrysler - are showing off new EVs at the car show, as Congress and Biden pledge tens of billions of dollars in loans, manufacturing and consumer tax credits and grants to speed the transition away from internal combustion vehicles to cleaner EVs.U.S.
In July, the U.S. Energy Department said it plans to lend Ultium Cells LLC, a joint venture of GM and LG Energy Solution , $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing facilities.recently announced it will build a new $4.4 billion lithium-ion battery plant for U.S. EVs with Korean battery supplier LG Energy Solution Ltd.said it will boost its planned investment in a new U.S. battery plant from $1.29 billion to $3.8 billion.
GM and LG Energy Solution in August began production at their $2.3 billion joint-venture battery production plant in Ohio. The companies are considering a site in New Carlisle, Indiana, for a fourth U.S. battery cell manufacturing plant expected to cost around $2.4 billion. "I believe we can own the future of the automobile market. I believe we can own the future of manufacturing," Biden said. "American manufacturing is back. Detroit is back. America's back, and folks, we're proving it's never, ever, ever a good bet to bet against the American people.
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President Joe Biden touring Detroit Auto Show WednesdayTransportation Sec. Pete Buttigieg will also be at the auto show as both him and the president hope to refocus more attention on the electric vehicle pivot ongoing in the industry. FOX13
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