National Association of Manufacturers - NAM’s Post

"The U.S. Department of Energy (DOE) $15.5 #billion package will provide grants and loans to retrofit existing #manufacturing centers, and bolster #battery manufacturing, with a focus on high-quality #jobs. Part of the #Investing in #America agenda, the package includes $2 billion in #grants and up to $10 billion in loans to support #automotive manufacturing conversion projects, with a major emphasis on retaining jobs. The #DOE also announced a Notice of Intent to make available $3.5 billion in #funding to expand domestic manufacturing of #batteries for #electricvehicles and the nation’s #grid, as well for battery materials and components currently imported from other countries. A focus here is not only on growing a #domestic industry, but also on supporting a growing domestic industry and promoting #equity and #environmental justice." https://lnkd.in/ghSDPe7v

$1.7 billion of IRA funding released to convert facilities for EV manufacturing The DOE has committed up to $1.7 billion to support the conversion of 11 shuttered or at-risk auto manufacturing and assembly facilities across eight states for the purpose of manufacturing electric vehicles and advancing the EV supply chain. States impacted include Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland, and Virginia. Additionally, the funding will advance the Biden Administration’s clean energy agenda while also creating and retaining thousands of good-paying union jobs and as it supports longstanding American auto communities, said a DOE press release. Funding to provide direct support for the EV ecosystem in the U.S. The funding, which is authorized pursuant to the Inflation Reduction Act (IRA), will go towards providing awards under the Domestic Auto Manufacturing Conversion Grants program. The program principally funds the domestic production of efficient hybrid, plug-in electric hybrid, plug-in electric drive, and hydrogen fuel cell electric vehicles. This story can be read in its entirety on the Wolters Kluwer Vital Law site (no paywall) at https://lnkd.in/grtEpRuW. As reported by Brad Rosen. #CleanEnergy #ElectricVehicles #EVSupplyChain #UnionJobs #InflationReductionAct 

By shifting EV development to big rigs, manufacturers can take advantage of these incentives, such as tax breaks, subsidies, and grants, to offset the initial investment costs and encourage fleet operators to make the transition to electric trucks. Read more 👉 https://lttr.ai/AGPIR #EvDevelopment #TechnologicalAdvancements #ExternalChargingInfrastructure #FewerMovingParts #DesigningHighCapacityBatteries #HaulingHeavyLoads

Republican threats, including the Heritage Foundation's Project 2025, call for reversing climate legislation that spurs EVs, heat pumps, solar PV, and wind projects. The linked article describes automakers' concerns with Donald Trump's statement to gut the Inflation Reduction Act. The IRA has created economic development success by re-industrializing the U.S. in EVs, batteries, solar PV, wind, and other technologies to lead the U.S. in global and domestic manufacturing. EVs made up 9% of U.S. market share in 2023. As stated in the article, “The question any Trump administration will have to face is: do they really want to be the authors of the downfall of the US auto industry?” [Source: Financial Times, the article is shared for all readers] #ev #inflationreductionact #batterystorage

The Inflation Reduction Act of 2023 introduced a variety of clean energy credits, including one for the purchase of EV and Hybrid vehicles. Read our latest article to find out if your EV/Hybrid vehicle is eligible for a Green Energy Tax Credit. Read: https://ow.ly/70uW50QL4sM #deleonandstang #cleanvehicletaxcredit #greenenergytaxcredit #electricvehicles

Interesting short article about the impact of the Inflation Reduction Act on manufacturing specifically in clean energy #manufacturing https://lnkd.in/eHaHUwDk

👀 A very interesting read on electric vehicles (EVs) and how this will affect every level, from the industry to the consumers. ------------------------------------------------------- The Government of Canada recently launched a consultation regarding potential measures in response to Chinese imports of electric vehicles (EVs) and EV parts. The initiative aims to safeguard Canada’s EV industry from potential market disruptions caused by these imports. Ali AMADEE, Sean Stephenson and Anoosh Loertscher discuss the potential outcomes of this consultation and its implications for businesses in the EV industry and supply chain. Read more: https://ow.ly/6zxA30sF61b #Corporate #Batteries #ElectricVehicles #Energy

"The United States Department of Energy is dedicating $15.5 billion to support the transition to electric vehicles. As part of President Joe Biden’s Investing in America agenda, most of the money will go to automakers and suppliers to retool their plants to produce electric, hybrid and hydrogen fuel cell electric vehicles, the agency said Thursday. A total of $12 billion ($2 billion in grants and $10 billion in loans) will directly support automotive manufacturing conversion projects for light-, medium- and heavy-duty EVs. The remaining $3.5 billion will go toward expanding domestic manufacturing of batteries for EVs and the nation’s grid, as well as battery materials and components that have historically been imported from other countries. This is the second tranche of funding for battery materials and manufacturing that the DOE has made available." #batteries #manufacturing #biden #equipmentfinance #equipmentleasing #financialservices #corporatefinance #finance https://lnkd.in/eFUWf3KF

How has the U.S. Inflation Reduction Act affected the EV industry across North America? Check out the newest updates on this interactive map. The highlights: 🚗70+ newly announced projects ⚡️44K+ projected new jobs 🔋$66 billion announced investments As EV and battery production continues to expand, charging infrastructure will need to growth along with it. Networked charging is key to ensuring that the EVs we continue to produce are truly integrated into our clean energy economy. Learn more: https://bit.ly/400Xn4J

Ontario’s roadmap to a green future just got a major upgrade with Honda's billion-dollar investment 💸 Bloomberg hints at an investment echoing between $14-$15 billion—unprecedented in Canada’s automotive realm. Government backing? Expected through substantial subsidies, alongside a game-changing investment tax credit that reduces costs for new, crucial EV supply chain facilities. Check the full report here ➡ https://lnkd.in/geqX2C_F 📌 What’s your take on this electrifying strategy?