Biden heads to Detroit to tout U.S. investment in electric vehicle market

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WASHINGTON, Nov 17 (Businesshala) – President Joe Biden will make his victory tour celebrating a new US infrastructure law in Detroit on Wednesday to tout investments aimed at boosting the market for electric vehicles.

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Biden, a Democrat, signed a $1 trillion infrastructure bill into law on Monday and, along with his approval rating, saw it as a fulfillment of a promise he made as a presidential candidate in the 2020 race for the White House. eager to promote.

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The legislation, which passed with support from Democrats and Republicans, provides $7.5 billion in funding to build the nation’s electric vehicle charging network, an investment the industry says will help more Americans buy electric vehicles and manufacturers to produce them. will inspire.

It provides funding to build EV chargers on highway corridors and within communities to help facilitate long-distance and local travel.

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Biden will highlight investments during a visit to the General Motors Company (GM.N) electric vehicle assembly plant in Detroit, Michigan’s largest city, a major political battleground in US elections. L1N2S72E9

The president will comment on how the law “builds electric vehicle charging stations nationwide to make it easier to drive an electric vehicle, reduce emissions to fight the climate crisis, and create well-paying, union jobs across the country.” is,” the White House said in a statement.

A sweeping transition to electric cars and trucks would help the United States meet Biden’s pledge to reduce greenhouse gas emissions by 50% from 2005 levels by 2030.

Democrats are working on a separate social spending and climate bill that includes up to $12,500 in tax credits for US-made EVs, including a $4,500 credit for union-built vehicles. The bill is a key pillar of Biden’s domestic agenda, but his party has faced hurdles to pass through competing views between progressive and liberal lawmakers.

Reporting by Jeff Mason; Editing by Mary Milliken and Stephen Coates

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