Administration Pledges More than $100 Million to Support Automotive Parts Suppliers

May 6, 2024
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Announced May 6 by Vice President Harris, in concert with Michigan Governor Gretchen Whitmer, Secretary of Energy Jennifer Granholm, and Acting Secretary of Labor Julie Su: new funding and resources for small- and medium-sized auto manufacturers to expand or retool manufacturing facilities. Included is $50 million set aside by the Department of Energy (DoE) to help suppliers convert from manufacturing internal-combustion-engine parts to manufacturing parts for the electric-vehicle (EV) supply chain.  The DoE also will set aside another $50 million to help suppliers kickstart manufacturing diversification and conversion projects. Specifically, this program, funded by President Biden’s Bipartisan Infrastructure Law, provides grants of up to $300,000 to entities that have received an Industrial Assessment Center assessment to improve their facilities’ energy and material efficiency, cybersecurity, or productivity, or reduce greenhouse-gas emissions.

These announcements come on the heels of the DoE making available $24 million in grants for EV and other clean-energy and advanced-manufacturing workforce-training initiatives at community colleges, trade schools, union training programs and registered apprenticeships.

Industry-Related Terms: Center
View Glossary of Metalforming Terms

Technologies: Management, Training

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