Tech Turmoil in 2025: Magnificent Seven Stocks Slide as Tesla Leads Market Decline
Big Auto and American Government Collabs to Boost Ev Production in 2024
By Shubhendra Anand , 07 January, 2025
The American government is preparing to boost electric vehicle sales soon. Therefore, the current American administration has announced it will grant USD 2 billion to the auto industry in 2024. Top car makers in the industry, such as Stellantis and General Motors, along with other carmakers, are getting ready to begin new projects. This latest venture aims to promote electric vehicles and expand its market in the eight American states in 2024.
According to the Energy Department, it aims to grant USD 1.7 billion to increase the number of union jobs. Further, it will aid in supporting auto-based communities in 2024. The project aims to improve electric vehicle manufacturing and their assemblage in the eight states of America. The American Energy Department claims to preserve several union jobs to support communities depending on auto industries. It focuses explicitly on supporting these communities from Michigan, Pennsylvania, Georgia, Ohio, Illinois, Indiana, Maryland, and Virginia. The new United States project to boost electric vehicle production is based on the Inflation Reduction Act (IRA) of 2022. According to this act, the American government focuses on driving competitiveness and innovation in the industry. Therefore, the act is currently effectively boosting electric vehicle sales in the United States.
The United States claims that the elevation of electric vehicles will uplift the future of the American auto industry in the upcoming years. Further, the government states that it will ensure the auto industry comprises American union workers. This development aims to bring significant success to electrification in the auto industry. Hence, the shift in energy for clean energy transformation will be faster. Therefore, the collaboration between the American government and Big Auto aims to succeed in 2024.
The United States electric vehicle sales were slow at the beginning of 2024; however, it aims to increase with Big Auto's collaboration in July 2024:
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Shubhendra Anand
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