The US government has invested another $2 billion in subsidies to promote the transformation of automobile electrification and save endangered car companies.

CTOnews.com, June 29 (Reuters)-the U.S. government said on Wednesday that it would invest $2 billion from last year's inflation reduction Act (CTOnews.com Note: about 14.48 billion yuan) to speed up the manufacturing of electric vehicles in the United States.

Tuyuan Pexels ‎ the project will provide cost-sharing subsidies for hybrid models, plug-in hybrids, pure electric models and even fuel cell models, and will revive manufacturers currently facing difficulties through policies.

In addition, the initiative will also provide funding for the electric transformation of existing automakers and urge the preservation of existing jobs in the auto industry.

The policy may be good news for car companies facing shutdowns and bankruptcy, such as Hon Hai's investment in Lordstown, a US commercial electric light truck maker, which is currently in bankruptcy protection, as reported by CTOnews.com a few days ago.

‎ the US government is pushing the auto industry to accelerate the transition to electric vehicles, and the EPA proposed in April that at least 2/3 of new cars would be electric vehicles in 2032 and that vehicle carbon emissions would be reduced by 56 per cent between 2027 and 2032 compared with 2026 requirements. These measures will propel it to achieve its economic decarbonization target by 2050.

‎, however, auto giants such as General Motors, Stellantis and Toyota claimed on Wednesday that EPA's proposal was "neither reasonable nor achievable."