Energy Secretary Jennifer Granholm has divested from electric vehicle manufacturing company Proterra after Republicans raised concerns of conflict of interest, according to reports.
Granholm had until late August to fully divest up to $5 million in stock options from Proterra, a company that makes electric buses, car batteries and charging stations.
President Biden’s administration has pushed electric vehicles as a solution to climate change, and his infrastructure plan calls for a $174 billion investment in the area, as well as federal subsidies for electric vehicles. Granholm has been a proponent of electric vehicles since her days as governor of Michigan.
Granholm divested from the company in “less than half” the time required under her ethics agreement, the Energy Department told Politico.
Proterra is in the process of going public through a $1.6 billion merger with ArcLight Clean Transition Corp., which could be a lucrati
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