President Biden will be in Detroit this week for the North American International Auto Show here in Detroit. Biden, who owns a vintage Corvette, will visit the Detroit Auto Show to promote electric vehicles promoted by his administration. When the Democratic president stops in Detroit on Wednesday, he may get the chance to get behind the wheel of a new vehicle. Biden recently took his pine-green 1967 Stingray out for a spin with Jay Leno for a segment on CNBC’s “Jay Leno’s Garage.” The presidents’ main purpose at the North American International Auto Show is to talk shop, promoting the huge new climate, tax and health care law that offers tax incentives for electric vehicle purchases.
In Detroit, Biden was scheduled to announce the approval of $900 million in infrastructure funding for EV chargers on 53,000 miles of highways in 35 states. The new law requires electric vehicles to be built in North America to qualify for a $7,500 federal tax credit. There are also requirements for battery minerals to be produced or recycled in North America for qualifying vehicles.
Despite Biden’s claims, most electric vehicle battery and assembly plant announcements were in the pipeline long before the Inflation Reduction Act was passed on Aug. 16. In Biden’s 2021 infrastructure bill, $5 billion will be provided over five years to help states build charging stations for electric vehicles. An electric pickup truck factory opened in Michigan in April. In Detroit, General Motors has renovated an old factory to make electric Hummers and pickups. GM’s battery plant in Warren, Ohio, has already begun production. GM will build its battery factories with the help of a government loan announced in July.