MEMA Applauds Fed Initiative to Support Suppliers -

MEMA Applauds Fed Initiative to Support Suppliers

Administration announces $100 million in funding and a suite of strategic actions to support auto parts workers.

MEMA, The Vehicle Suppliers Association (MEMA), said it applauds the announcement on May 6, 2024, by Vice President Harris and the Biden-Harris Administration in their support of small- and medium-sized auto parts manufacturers and autoworkers. Through the announcement of more than $100 million in funding and a suite of strategic actions, the Administration demonstrates its commitment to strengthening the domestic auto industry and ensuring its competitiveness in the clean vehicle future, according to MEMA.

MEMA said it has been actively collaborating with the White House to develop initiatives that support vehicle suppliers including providing essential data requested by the White House, enabling policymakers to understand the impact of the supplier industry, specifically small- and medium-sized businesses, and formulate effective strategies to support its growth and resilience.

Key highlights of the Vice President’s announcement include:

1. More than $100 Million in Funding: The Administration has allocated over $100 million in funding aimed at assisting small- and medium-sized vehicle parts manufacturers in expanding or retooling their manufacturing facilities and addressing infrastructure needs such as energy efficiency and cybersecurity. This substantial investment underscores the Administration’s recognition of the pivotal role played by these manufacturers in driving innovation and competitiveness within the automotive sector.

2. Workforce Training and Job Quality Enhancement: A significant component of the announcement focuses on expanding workforce training and improving job quality within the electric vehicle (EV) supply chain, with a particular emphasis on auto communities in the Midwest. By prioritizing workforce development initiatives, the Administration aims to equip American workers with the skills necessary to excel in the rapidly evolving vehicle landscape.

3. New Technical Assistance Programs: The Administration has introduced innovative technical assistance programs designed to support small and medium-sized auto parts manufacturers and their communities in capitalizing on the growth opportunities presented by the EV sector and other emerging markets. These programs will provide valuable resources and guidance to facilitate the transition toward sustainable and competitive manufacturing practices.

“This significant investment and comprehensive set of actions announced by Vice President Harris will undoubtedly have a meaningful impact for the sector,” Bill Long, president and CEO of MEMA, commented. “This is a clear step in the right direction for our members, empowering them to thrive in the evolving vehicle ecosystem.”

MEMA said it recognizes the significance of these initiatives in fostering innovation, sustainability, and job growth within the vehicle supply chain. By leveraging federal resources and fostering collaboration between stakeholders, the Administration’s actions will empower American manufacturers to thrive in the evolving vehicle ecosystem.

For additional details, access the White House press release here.

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