The $1.7B bet on American-made EVs, explained by the Secretary of Energy

The Department of Energy announced a $1.7 billion investment to convert 11 auto manufacturing facilities in the U.S. into electric vehicle (EV) production plants. This initiative aims to create 2,900 new jobs and preserve over 15,000 union jobs. Secretary of Energy Jennifer Granholm highlighted the importance of reshoring manufacturing, particularly in the clean energy sector, to compete globally and produce EVs domestically with union labor. The funding also supports the production of electric buses to improve air quality and create job opportunities. The Biden administration is working to boost EV demand by reducing prices through tax credits and expanding charging infrastructure to alleviate range anxiety. Additionally, efforts are being made to integrate EVs into the grid as a network of batteries to support clean energy goals. The selection of facilities for funding was based on merit and not influenced by political considerations. Granholm emphasized the bipartisan nature of the initiative and expressed hope that future administrations would continue to support domestic EV manufacturing.