Auto Industry’s Shift to EVs Gets $12 Billion Boost

The Energy Department said it is planning to provide up to $12 billion in funding for automakers to retrofit existing manufacturing facilities in the U.S. for the production of electric and hybrid vehicles. Most of the funding, some $10 billion, will be allocated from an advanced-vehicle manufacturing program overseen by the department’s Loan Programs Office, Energy Secretary Jennifer Granholm said. The other $2 billion will come from funds allocated by last year’s Inflation Reduction Act. The funds will help provide jobs in longstanding automaking communities as the auto industry transitions to electric vehicles, Granholm said.

tips

retrofit 样式翻新（retro- 向后，fit 安装）

hybrid 混合的

overseen 监督的

loan 贷款

secretary 秘书；大臣；部长

reduction 减少