$9 million program set to help small Michigan auto suppliers finance EV transition
(The Center Square) – The U.S. Dept. of Treasury has allocated more than $9 million to help launch Michigan’s Auto Supplier Transition Program, an effort to help small and minority-owned auto industry businesses in the state adapt their business models and operations to an increasingly electric vehicle-centered supply chain.
The money will provide financial, legal, accounting and other support services to underserved auto suppliers in the internal combustion engine auto supply chain across the state who want to transition to serving the electric vehicle industry.
“Small auto suppliers are crucial to our state’s auto industry and domestic supply chain, and central to the communities who have built their livelihoods in the auto industry,” Rep. Debbie Dingell said. “This investment will ensure they’re equipped with the resources to continue to be successful as we transition to electric vehicles and other clean energy technologies.”
The support services could include, but are not limited to, general educational opportunities and in-depth business health assessments, coaching, and subject matter expert advisory by technical assistance providers contracted by the state.
“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, D-Mich. “This funding will directly help those businesses create and retain jobs, adapt their operations, and continue supporting their local economies.”
Michigan Gov. Gretchen Whitmer’s MI Healthy Climate Plan aims to have 2 million EVs on the road by 2030. Out of roughly 7.9 registered vehicles in Michigan, about 23,000 are EVs, according to 2024 state data.
