Vice President Announces $100 Million for EV Manufacturing With DEI Incentives

Vice President Kamala Harris stopped in Detroit on Monday as a part of the White House’s Economic Opportunity Tour to announce an investment of over $100 million in electric vehicle (EV) manufacturing with a focus on black-owned businesses. Ms. Harris touted the Biden administration’s investment of “trillions of dollars in America’s infrastructure, in clean energy and a clean energy economy, in manufacturing, and in supply chains.” She then stated that the Biden administration has invested “hundreds of billions of dollars” to address racial disparities, which this newly announced investment will also address by favoring black-owned businesses. “We all know black entrepreneurs do not lack for ideas or ambition but often lack the capital that is necessary to turn an idea into a thriving business, to invest in inventory, hire employees, to scale up,” she said. “In fact, black entrepreneurs are three times as likely to not apply for a loan for fear they’re going to be turned away from a bank.”...