Ohio

$32 million federal grant to boost Toledo electric car manufacturing company and create 2,900 jobs

Toledo, Ohio – Supported by a large federal grant, a Toledo-based company is expected to be instrumental in the manufacturing of electric cars (EVs), in a major effort towards rebuilding the U.S. auto industry. Aiming to revive auto manufacturing and increase job creation in Ohio, the measure comes under the umbrella of a larger Biden administration plan with more than $32 million designated to Ohio alone.

Originating from the Inflation Reduction Act, this financial program sets aside $1.7 billion to transform about a dozen manufacturing plants all around the country that were on verge of collapse. As the United States works to lower its carbon impact, these factories are now turning into producers of electric cars, a market growing in importance.

Vice president of strategy for the nonprofit Electrification Coalition Anne Blair claims the investment will not only ensure the future of over 15,000 union workers across eight states but also generate around 2,900 new, skilled employment.

“We are excited to see the Biden administration investing in domestic manufacturing of EVs,” Blair said. “This funding will create good-paying American jobs and give consumers and businesses more vehicle choices.”

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Though four in ten Americans are thinking about an electric vehicle for their next car purchase—a 2023 Pew Research Center poll shows—there is still some resistance to the growing interest in electric vehicles. Critics contend there is insufficient demand to support increasing manufacture of electric vehicles, which they find to be overly expensive. Proponents like Blair, however, argue that the move toward electric cars is essential for lowering America’s reliance on oil, which presents major national security concerns given possible foreign interference and the volatility of global markets.

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Among the world’s biggest consumers of oil, Americans consumed on average about 20 million barrels of petroleum daily in 2022.

“For a century, oil has had a monopoly on our transportation, which has led to dire national security risks,” Blair asserted. “Electric vehicles are a critical alternative to the dangers of our oil dependency.”

Toledo company is expected to be crucial in manufacturing of electric cars, in a major effort towards rebuilding the U.S. auto industry.

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The money and the following rise in EV output have two advantages: they help the U.S. toward a more sustainable future and revive a once-dominant manufacturing sector. This Toledo project marks only a beginning for what might be a radical change in the environmental effect of the automobile sector as well as the economic landscape.

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