 Energy & Environment |
Energy & Environment |
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Biden gives auto industry $1.7B boost to make EVs |
The Biden administration will put $1.7 billion toward 11 projects to bolster domestic manufacturing of electric cars, trucks, buses and motorcycles.
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Companies that will receive funds to convert their facilities to make electric cars include Fiat Chrysler, GM and Volvo. The funds were part of cost-sharing agreements, so the companies will also need to invest money for the switch.
An administration official told reporters that facilities that had temporarily closed or were at risk of closing were prioritized for funding.
In a written statement, President Biden touted the initiative as beneficial for both the climate and workers.
"Building a clean energy economy can and should be a win-win for union autoworkers and automakers," Biden said.
The funding for the grants comes from the Democrats' Inflation Reduction Act.
Read more in a full report at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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The federal government announced a $241.5 million settlement with Marathon Oil on Thursday for alleged air quality violations at the company’s oil and gas operations on the Fort Berthold Indian Reservation in North Dakota. |
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More than a dozen Democratic senators called on Treasury Secretary Janet Yellen to relax guidelines around federal tax subsidies for the hydrogen industry in a letter this week. |
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An advocacy group that opposes environmental, social and governance (ESG) investing launched a broad public relations effort to shape negotiations around a new farm bill. |
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Branch out with a different read on The Hill: |
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A surging supply of thick sea ice — fragmenting due to the warming effects of climate change — is shortening the shipping season through the Northwest Passage, a new study has found. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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Meet Tim Dunn: the ultraconservative billionaire pastor spending millions to protect his oil – and elect Trump (The Guardian)
How Death Valley National Park tries to keep visitors alive amid record heat (The Los Angeles Times) Before a N.C. dam is removed, biologists search for America's largest salamander (NPR)
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Two key stories on The Hill right now: |
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President Biden is holding a rare press conference Thursday as he tries to shake off mounting calls for him to withdraw from the presidential race. Read more |
| President Biden will hold a highly anticipated press conference in Washington on Thursday in which he is poised to face a barrage of questions from reporters about the calamity now surrounding his 2024 reelection campaign. Read more |
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You're all caught up. See you tomorrow! |
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