Potential Revocation of Billion-Dollar Grants Amid Government Shutdown

The U.S. Energy Department may revoke $1.1 billion in grants to Stellantis and General Motors, awarded for retooling projects. This decision is part of a possible $12 billion in canceled awards due to the ongoing partial government shutdown.

The U.S. Energy Department is considering the revocation of nearly $1.1 billion in grants allocated to Stellantis and General Motors for retooling initiatives. The grants, previously awarded as part of an effort by President Joe Biden's administration, hang in the balance.

This potential revocation is part of a broader review affecting $12 billion in awards, highlighting the financial uncertainty brought on by the current partial government shutdown.

The ongoing review and potential retraction of funds underscore the significant impact of political standoffs on substantial economic commitments and future projects.

(With inputs from agencies.)