Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Sunday, June 28
    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

    TD Securities upgrades Diageo to “buy,” cites valuation dislocation By Investing.com

    June 28, 2026
    Investing

    Nasdaq posts four-day losing streak as Apple slide offsets stellar Micron earnings By Investing.com

    June 27, 2026
    Investing

    Stocks Waver as the AI Invoice Starts Changing Hands

    June 26, 2026
    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

    Solana ETF Momentum Grows With New Filing After Bitcoin and Ethereum Approvals

    October 30, 2024
    Stock Market

    Dow, S&P 500, Nasdaq rise to kick off busy week of key data, Big Tech earnings

    October 28, 2024
    Property

    China’s innovation leap a boon for Milliken

    April 21, 2025
    What's Hot

    London Stock Exchange Group plc (OTCMKTS:LNSTY) Short Interest Update

    July 13, 2024

    The UK’s ‘best’ seaside town to move to in 2025 with properties on sale for just £70k | UK | News

    May 31, 2025

    North American Morning Briefing: Stock Futures Rise Amid Focus on Revised Jobs Data

    September 9, 2025
    Most Popular

    Ray Dalio Backs Bitcoin as Institutional Demand Grows

    July 29, 2025

    Crude oil futures rase as market awaits outcome of US-China trade talks 

    June 9, 2025

    World’s Top Miner Paints China Iron-Ore Stand-off as Business as Usual — Update

    October 22, 2025
    Editor's Picks

    La chute de Bitcoin en dessous de 100 000 $ Sparks Barish Chatter, mais Data dit autre chose

    June 24, 2025

    On finance des pêches qui rendent malades

    May 29, 2025

    UK estate agents’ optimism on home sales hits highest level in over a year

    January 14, 2026
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2026 Invest Insider News

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