The Drive Forward Fund aims to provide $1 billion in loans to help smaller auto suppliers transition towards electric vehicles, fostering a domestic EV supply chain.
The announcement emphasizes the necessity for additional capital and support for manufacturers that are ready to innovate and expand their production capabilities.
Auto suppliers, employing over 250,000 workers, are essential to the transition to EVs and are currently facing challenges like workforce retraining and plant retooling.
The backing from the government underscores the importance of assisting auto suppliers in adapting to new EPA emissions regulations while supporting their business growth.
Collection
[
|
...
]