Economy
Toledo plant to manufacture EVs with federal funding
Ohio will receive more than $32 million in federal funding to help revive auto manufacturing and jobs in the state, specifically electric vehicle production at a plant in Toledo.
U.S. vehicle manufacturing has been on the decline since the 1970s, but the Biden administration is providing $1.7 billion in grants from the Inflation Reduction Act to help convert nearly a dozen manufacturing facilities on the cusp of closing into EV producers.
Anne Blair, vice president of policy for the nonprofit Electrification Coalition, said the projects will collectively create more than 2,900 new, skilled jobs and help ensure more than 15,000 union workers are employed in eight states.
“We’re excited to see the Biden administration investing in domestic manufacturing of EVs,” Blair pointed out. “This funding will create good-paying American jobs and give consumers and businesses more vehicle choices.”
Around four in 10 Americans said they are “very or somewhat likely” to consider an electric vehicle as their next car purchase, according to a 2023 Pew Research Center survey. Opponents of EVs argued they are expensive, and said people are not buying enough of them to warrant more production.
Blair believes the nation’s continued heavy reliance on fossil fuels leaves it increasingly vulnerable to foreign influence and the whim of global markets.
“For a century, oil has had a monopoly on our transportation, which has led to dire national security risks,” Blair asserted. “Electric vehicles are a critical alternative to the dangers of our oil dependency.”
The U.S. is among the largest consumers of oil in the world; in 2022, the Americans used an average of around 20 million barrels of petroleum per day, according to federal data.