"The Department of Energy is looking to cut billions more in federal funding, and many promising startups as well as automakers Ford, General Motors, and Stellantis could be affected by the Trump administration's decision. The proposed cuts would cancel more than $500 million of contracts awarded to more than a dozen startups, according to a TechCrunch analysis of a internal document that has not become public yet. All of the proposed cuts are grants that had been awarded under the Bipartisan Infrastructure Law."
"Startups might not be the only losers. Other companies slated to lose grants worth hundreds of millions of dollars include Daimler Trucks North America, Ford, General Motors, Harley-Davidson, Mercedes-Benz Vans, Stellantis, and Volvo Technology of America, according to the document viewed by TechCrunch. Sources confirmed with TechCrunch these are proposed cuts. General Motors could lose at least $500 million in grant money issued from a federal Domestic Manufacturing Conversion Grant program. The money was going to be used to retool the Lansing Grand River Assembly Plant in Michigan."
An internal Department of Energy document lists proposed cancellations of grants and contracts that would cut more than $500 million awarded to startups and proposes additional billions in reductions. All proposed cuts are grants awarded under the Bipartisan Infrastructure Law and follow earlier proposed eliminations exceeding $7.5 billion. Major automakers and suppliers named for potential losses include Ford, General Motors, Stellantis, Daimler Trucks North America, Harley-Davidson, Mercedes-Benz Vans, and Volvo Technology of America. General Motors faces at least $500 million in potential grant losses for retooling a Michigan plant for electrified vehicle production. Several large awards, including a $189 million grant to Brimstone for lower-carbon materials production, are on the chopping block, threatening startup operations and planned manufacturing investments.
Read at TechCrunch
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