Retooling auto plants for EVs will cost billions. Biden wants to help
The Hindu
The Biden administration and fellow Democrats in Congress have proposed nearly $50 billion in tax breaks, incentives for government agencies to buy electric vehicles, loans for retooling factories and aid to automotive plant communities.
General Motors Co's "Factory Zero" in Detroit is on the front line of a battle for the U.S. electric vehicle market between ageing, unionised factories, and new, non-union plants run by young electric vehicle companies.
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President Joe Biden's administration wants to give the older part of the American auto industry a boost.
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