TSLA386.393-6.107%
GM79.050-1.49%
F12.780-0.09%
RIVN17.1500.23%
CYD43.880-0.29%
HMC24.960-0.4%
TM204.030-11.22%
CVNA400.970-1.02%
PAG160.560-2.26%
LAD280.050-8.71%
AN205.280-4.25%
GPI344.450-6.76%
ABG208.030-4.68%
SAH70.045-1.735%
TSLA386.393-6.107%
GM79.050-1.49%
F12.780-0.09%
RIVN17.1500.23%
CYD43.880-0.29%
HMC24.960-0.4%
TM204.030-11.22%
CVNA400.970-1.02%
PAG160.560-2.26%
LAD280.050-8.71%
AN205.280-4.25%
GPI344.450-6.76%
ABG208.030-4.68%
SAH70.045-1.735%
TSLA386.393-6.107%
GM79.050-1.49%
F12.780-0.09%
RIVN17.1500.23%
CYD43.880-0.29%
HMC24.960-0.4%
TM204.030-11.22%
CVNA400.970-1.02%
PAG160.560-2.26%
LAD280.050-8.71%
AN205.280-4.25%
GPI344.450-6.76%
ABG208.030-4.68%
SAH70.045-1.735%

President Biden promotes American EV manufacturing at Detroit Auto Show

President Biden

Image by Kevin Lamarque // Reuters

During his visit to the Detroit Auto Show, President Joe Biden announced the first wave of funding for a national network of electric vehicle charging stations, subsidizing the building of stations in 35 states.

“I’m pleased to announce that we’re approving funding for the first 35 states, including Michigan, to build their own charging infrastructure throughout their state,” Biden said in a speech.

Biden has been a strong supporter of electric vehicles, helping pass legislation that provides incentives for customers to buy and businesses to produce them. While the Inflation Reduction Act and the CHIPS and Science Act both included measures promoting the development of the industry in the US, the Bipartisan Infrastructure Law provided $7.5 billion for a national network of EV charging stations.

“The great American road trip is going to be fully electrified, whether you’re driving coast-to-coast along I-10 or on I-75 here in Michigan,” Biden added. “Charging stations will be up and as easy to find as gas stations are now.”

According to the White House, businesses like GM, Ford, Honda, and Panasonic have announced investments totaling close to $85 billion since Biden assumed office in order to produce electric vehicles, batteries, and EV chargers across America, including in Michigan, North Carolina, Ohio, Missouri, and Kansas.

Biden viewed a number of electric vehicles ahead of his speech, including the F150 Lightning, which he previously test drove, the Silverado EV, which begins production in Michigan next year, and the Jeep Grand Cherokee 4xe 30th Anniversary Edition.

Biden also briefly drove an electric Cadillac Lyriq down the blue carpet while a Secret Service agent accompanied him.


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