The U.S. is ofering $12 billion for automakers and suppliers to retrofit plants to produce electric and other advanced vehicles, the energy secretary says.
Energy Secretary Jennifer Granholm in aWASHINGTON — The United States is making $12 billion available in grants and loans for automakers and suppliers to retrofit their plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm told reporters on Thursday. manufacturers, Granholm said.
For the advanced vehicles, $2 billion of the funding will come from the Inflation Reduction Act which Democrats passed last year, and $10 billion will come from the Energy Department's Loans Program Office, Granholm said.
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