Date: 06/28/2023
Type: Implementation of IRA
On June 28th, 2023, DOE shared plans to invest $2 billion of funding appropriated by IRA section 50143 to expedite domestic EV manufacturing. The IRA, which contains clean vehicle tax credits for qualifying manufacturers, will now fund cost-shared grants for the domestic production of hybrid, plug-in electric hybrid, fully electric and fuel cell EVs, according to the department.
The program will prioritize projects to refurbish or retool manufacturing facilities that have recently ceased operations or are expected to close soon. The new grant program aims to preserve existing jobs, including union jobs.