2025: GM and Stellantis Secure $1.1B DOE Grants to Transform Plants for EV Production
In 2025, General Motors and Stellantis receive nearly $1.1 billion in U.S. Department of Energy grants to convert at-risk manufacturing plants into cutting-edge electric vehicle production hubs, preserving thousands of jobs and driving the future of automotive innovation.
Highlights
- In 2024, the White House awarded $1.7 billion in grants aimed at converting 11 vulnerable plants into electric vehicle (EV) manufacturing centers.
- GM and Stellantis collectively secured about $1.1 billion to upgrade facilities across Michigan, Illinois, and Indiana.
- The U.S. Department of Energy projects that these grants will safeguard 15,000 existing union jobs while creating nearly 3,000 new positions.
Automotive giants General Motors (GM) and Stellantis (STLA) have been granted close to $1.1 billion by the U.S. Department of Energy in 2024. These funds will be used to transform at-risk plants into state-of-the-art electric vehicle production facilities, marking a significant step toward sustainable manufacturing.
This initiative is part of a broader $1.7 billion investment targeting 11 plants across eight states, underscoring a nationwide commitment to EV industry growth. The DOE anticipates this funding will help retain 15,000 union jobs while generating nearly 3,000 new employment opportunities.
GM to Receive $500 Million, Stellantis $585 Million for EV Plant Upgrades
General Motors is set to receive $500 million to convert its Michigan facility into a dedicated EV production plant. Meanwhile, Stellantis will obtain approximately $585 million for upgrading its Fiat-Chrysler plants located in Illinois and Indiana. Additional funded sites are distributed throughout Ohio, Pennsylvania, Maryland, Georgia, and Virginia.
U.S. Secretary of Energy Jennifer Granholm emphasized the importance of these investments: "Losing manufacturing jobs to foreign competition and industry shifts is challenging for communities. These grants ensure that the American automotive industry remains competitive, thriving with the workforce that has supported it for generations."
President Joe Biden has prioritized electric vehicle production as a cornerstone of his domestic energy strategy. The Inflation Reduction Act, enacted in 2022, enhances consumer adoption of EVs by offering tax credits up to $7,500 for qualified buyers.
Following the announcement, GM shares climbed 2.4% to $47.65 by 11:20 a.m. ET, while Stellantis shares increased by 0.5% to $20.20.
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