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US Treasury To Provide Up To $5B in Financing For Auto Supplier Support

Green Car Congress

While the President’s Task Force on the Auto Industry continues to review restructuring plans submitted by General Motors and Chrysler, the US Department of the Treasury announced an Auto Supplier Support Program that will provide up to $5 billion in financing to US-based suppliers.

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Grant Thornton LLP Warns of Potential Collapse of Automotive Supply Chain

Green Car Congress

But the most immediate and pervasive risk to the economy is a wholesale collapse of the automotive supply base, Grant Thornton LLP partner Laura Marcero told the Automotive Press Association in Detroit. Grant Thornton LLP is the US member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations.

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Li-ion battery maker Boston-Power announces $125M in new financing; focus on and support from China

Green Car Congress

Additionally, through its stimulus programs and local industrial policies, the Chinese government is providing a range of grants, low-interest loans and related financial and tax incentives. CEO, Protean Electric and a 32-year auto industry veteran responsible for the development and production of the GM EV-1.

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Ener1 Outlines Automotive Programs Underway for Li-ion Packs

Green Car Congress

Ener1 said that customer interest in its lithium-ion batteries from all segments remained strong in spite of distress the auto industry and current recessionary economic conditions. year financing under the Department of Energy’s (DOE) Advanced Technology Vehicle Manufacturing Incentive Program (ATVMIP). million in 2007.

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2022 Rivian R1T: a real pickup truck makes an impressive debut

Charged EVs

The startup carmaker Rivian was founded a decade ago by RJ Scaringe, but it didn’t go public with its electric pickup truck and SUV until the 2018 Los Angeles Auto Show. It was a stunt, granted, but definitely a first for most of us. The two vehicles pretty much stole the show that year. The food was splendid.). The next Tesla?

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On the Shoulder of Giants: How the Tesla Cybertruck’s ambitious camper is willing itself into being

Teslarati

Granted, the transforming pop-up camper was priced at a premium at about $50,000 per unit, but for some Cybertruck reservation holders, the expense was worth it. We’re currently exploring many different ways of financing it, including debt, traditional equity, private equity, and SPACs. foot bed of the Cybertruck.

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Good News and Bad News: Changes to the Federal EV Tax Credit in 2024

EV Life

These additional requirements are meant to encourage the auto industry to rely less on foreign countries like China and more on domestic sources for these components, promoting local manufacturing and supply chain security. Each year, the percentages for these components go up, making it harder for vehicles to remain eligible.