WHITE HOUSE TOUTS $1 BILLION FUND TO HELP AUTO SUPPLIERS RETOOL FOR EVS
NEWS Desk Global
Investment firm Monroe Capital LLC said on Monday it plans to launch a fresh fund of up to $1 billion to provide loans for smaller auto suppliers as the industry shifts from gasoline-powered to electric vehicles.
The White House said the fund would "facilitate access to lower cost capital for small- and medium-sized auto manufacturers to refinance, grow, and diversify their businesses" and noted that more than 250,000 people across the United States work for small- and medium-sized auto suppliers.
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