Michigan Receives $9M to Help Small Automotive Suppliers With Electric Vehicle Transition
Michigan will receive more than $9 million from the U.S. Department of Treasury to help small automotive suppliers in the state prepare themselves for an increase in electric vehicles, reports The Center Square.
The state plays a large role in the EV transition, with Gov. Gretchen Whitmer aiming to have two million EVs in Michigan by 2030. Currently, 2024 state data shows a total of about 23,000 EVs registered in Michigan.
The funds will be used to launch Michigan’s Auto Supplier Transition Program, which will focus on supporting underdeserved automotive suppliers in the state with transitioning to servicing the EV industry.
This follows a recent $500,000 federal grant given to universities in Michigan to assist small- and medium-sized automotive manufacturers in creating EV components.
Ways this program will support suppliers is through financial, legal, accounting, and other support services. Examples of services provided include general educational opportunities, business health assessments, and expert advisory from technical assistance providers contracted by the state of Michigan.
“As Michigan automakers continue building the vehicles of the future, it’s critical that the thousands of suppliers and small businesses across our state who support the industry also have the resources they need to be successful,” said Sen. Gary Peters. “This funding will directly help those businesses create and retain jobs, adapt their operations, and continue supporting their local economies.”
