Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Tuesday, December 16
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Investing»Kokomo, Columbus auto manufacturing investment by Department of Energy
    Investing

    Kokomo, Columbus auto manufacturing investment by Department of Energy

    July 11, 20244 Mins Read


    INDIANAPOLIS — Auto manufacturing and assembly facilities across the United States, including two from Indiana, are expected to receive multi-million dollar investments from the U.S. Department of Energy to manufacture electric vehicles and help the automotive supply chain.

    According to a news release, the department will provide $1.7 billion in Domestic Manufacturing Auto Conversion Grants from the Inflation Reduction Act to support 11 auto manufacturing and assembly facilities to transition to electric vehicle manufacturers.


    The 11 selectees, including Cummins in Columbus and the Fiat-Chrysler Automotive plant in Kokomo, will negotiate for awards to help them manufacture vehicles and products to help the automotive supply chain.


    Cigarette, alcohol and sports-wagering tax increases under consideration to fund long-term mental health initiatives

    The release said Cummins in Columbus is expected to receive $75 million in federal grants, the largest federal grant ever awarded solely to Cummins. With the money, the company aims to decarbonize their operations, aiming to position itself as a “leader in electrified technologies.”

    Along with the grant, Cummins will invest an additional $75 million in cost share to bring the total investment to $150 million. This will help convert the company’s Columbus Engine Plant to house manufacturing for zero-emissions components and electric powertrain systems.

    Officials said this will add around 250 new full-time jobs and allow opportunities for the plant’s existing workforce to transition to these positions.


    Indiana SOS asks federal agencies to not engage in voter registration without state’s permission

    “This project stands as a testament to Cummins’ dedication to innovation, community welfare and environmental stewardship,” the release said, “making a significant contribution to the local community and the broader goals of sustainable transportation.”

    The Fiat-Chrysler Automotive facility in Kokomo is expected to receive $249,999,999 in grants to convert its Indiana Transmission Plant to begin production of electric drive modules. The release said this will help increase e-motor capabilities for incorporation into electric vehicles.

    This transition will include the retention, and upskilling of, 585 employees. Officials said the project will transition the plant’s manufacturing processes from internal combustion engine technologies to electrified alternatives.

    “The project will support the local Kokomo community by providing new job training for employees and additional employment opportunities for diverse contractors,” the release said. “The commitments toward these goals include partnering with local organizations and investing in engagement strategies for the benefit of the local communities and (the company’s) employees.”

    Other companies from around the United States who received grants include:

    • American Autoparts in Toledo, Ohio – $32,617,879
    • Blue Bird Body Company in Fort Valley, Georgia – $79,728,146
    • Fiat-Chrysler Automotive U.S., LLC facility in Belvidere, Illinois – $334,763,050
    • General Motors, LLC in Lansing, Michigan – $500,000,000
    • Harley Davidson, Inc. in York, Pennsylvania
    • Volvo Technology of America, LLC facilities in Macungie, Pennsylvania, Dublin, Virginia and Hagerstown, Maryland – $208,224,054
    • ZF North America, Ind. in Marysville, Michigan – $157,714,011

    These new Indiana laws go into effect on July 1

    In a statement from President Joe Biden about the grants, he said:

    Building a clean energy economy can and should be a win-win for union autoworkers and automakers. This investment will create thousands of good-paying, union manufacturing jobs and retain even more—from Lansing, Michigan to Fort Valley, Georgia – by helping auto companies retool, reboot, and rehire in the same factories and communities. This delivers on my commitment to never give up on the manufacturing communities and workers that were left behind by my predecessor and are now making a comeback with the support of my policies, including the conversion grants my administration is announcing today. These grants will help ensure the future of the auto industry is made in America by American union workers. I’ll never stop fighting for the American auto industry and American autoworkers.

    President Joe Biden



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleMichael Saylor’s MicroStrategy (MSTR) Announces Stock Split as Share Price Triples in a Year on Bitcoin (BTC) Rally
    Next Article Li Ka-shing’s CK Infrastructure considers secondary listing in London

    Related Posts

    Investing

    SpaceX: A Financial and Strategic Windfall for Google

    December 15, 2025
    Investing

    Gold’s Uptrend Remains Intact, but Bond Yields Hold the Key This Week

    December 15, 2025
    Investing

    US Dollar Stays Soft Ahead of a Busy Week

    December 15, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Bitcoin

    Bitcoin Price Watch: Bitcoin tient 102 000 $ après les frappes aériennes américaines sur l’Iran

    June 22, 2025
    Investing

    Gold: Why It Outshines Platinum and Palladium in Monetary Stability

    September 18, 2025
    Finance

    Tokenization the next chapter of global finance

    August 22, 2025
    What's Hot

    Fat Brands accepte le bitcoin pour le paiement des redevances des franchisés

    April 2, 2025

    Arthur Hayes Makes Shocking Bitcoin Prediction For Year-End

    November 28, 2025

    House Fire in Joppa Results in Hospitalization and Major Property Loss

    July 27, 2024
    Most Popular

    Aluminium’s Green Transformation: Can Europe Compete With China and the US?

    July 30, 2025

    Agridence Acquires farmer connect to Deliver Unified Compliance and Traceability Solutions for Global Agriculture Supply Chains

    August 19, 2025

    ADB and IFC release joint Reference Note on sustainably linked trade finance – Trade Finance Global

    July 30, 2024
    Editor's Picks

    Bitcoin Miner Profits Hit Highest Monthly Mark Since Halving: JP Morgan

    August 2, 2025

    Farming union members from across Wales were at the Senedd for a debate on the UK Government’s controversial changes to Agricultural Property Relief

    March 10, 2025

    Car finance scandal: Average payouts of £700 per claim under compensation plans

    October 7, 2025
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.