$2.4 Billion EV Stimulus Funding: GM RWD EVs?

2 4 billion ev stimulus funding gm rwd evs

GM will receive some $241 million of the government’s $2.4 billion electric vehicle (EV) stimulus grants, most of it for the “ on-time and under-budget” Chevy Volt program. Other grant recipients were Chrysler ($70m), Ford ($92.7m), JCI ($299m), A123 ($249m), Compact Power ($151.4m, on behalf of LG Chem, the South Korean supplier of Chevy Volt batteries), and the National Fire Protection Association ($4.4m). Full breakdown in PDF format here. But what makes this otherwise routine subsidizing of particular interest, it’s that GM is spending its non-Volt money on . . . get this . . .

Construction of U.S. manufacturing capabilities to produce the second-generation GM global rear-wheel electric drive system.

To the tune of $105 million. No kidding. Read the PDF. Then let the reckless speculation begin!

Comments
Join the conversation
4 of 27 comments
Next