Foreign carmakers in China face increasing challenges in the EV market. Chinese EV makers are expected to occupy 70% of the EV market by 2030 while facing increasing EU and US tariffs.
The Biden administration plans to award General Motors and Chrysler-parent Stellantis nearly $1.1 billion in grants to convert existing plants to build electric vehicles and components, it said on Thursday.
The Department of Energy (DOE) announced $1.7 billion in planned grants to help fund the conversion of 11 “at risk” plants in eight states to enable the production of 1 million EVs annually, help retain 15,000 existing jobs, and create 3,000 new positions.
Yup exactly what I was complaining about. The only EVs North America will allow are the giant overpriced and out of reach vehicles. Subsidies for the rich and well off.
Biden administration to award nearly $1.1 billion to Stellantis, GM for EV production
Yup exactly what I was complaining about. The only EVs North America will allow are the giant overpriced and out of reach vehicles. Subsidies for the rich and well off.