American President Joe Biden has detailed a $174 billion investment into electric vehicles as part of the country’s $2.5 trillion infrastructure plan. Where’s the money going? The Biden administration will put $174 billion into creating jobs, growing the EV market in the US, and supporting the associated industry. Factories will be financed to be retooled, and supply chains will be supported to grow domestically, but compete globally. As in many other EV-focused nations like the Netherlands and Norway, some funds will be used to give car buyers rebates and tax incentives. In this case, those subsidies will apply to American-made…
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