U.S. to provide up to $12B for EV auto plant retrofitting, Bloomberg reports

U.S. Energy Secretary Jennifer Granhold said during a Thursday briefing that that Energy Department plans to make up to $12B available for car makers to retrofit their plants to make electric vehicles and hybrids, Bloomberg’s Ari Natter reports. The funding provided by the government will include $10B from a federal loan program for clean vehicles, the author notes. Publicly traded companies in the space include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz Group (DDAIF), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).