Proposed Department of Energy Cuts Could Impact Automakers and Startups

The U.S. Department of Energy (DOE) is considering cutting more than $500 million in federal grants awarded to various startups and major automakers, a move that could significantly affect industry innovation and job growth. These potential cuts are part of broader actions initiated by the Trump administration, which have already included over $7.5 billion in contract reductions.

According to a TechCrunch analysis of an unreleased internal document, automakers including Ford, General Motors, Stellantis, and Daimler Trucks North America stand to lose substantial funding designated for projects under the Bipartisan Infrastructure Law. General Motors, for instance, may face a loss of at least $500 million intended for retooling its Lansing Grand River Assembly Plant in Michigan to produce electrified vehicles.

Startups also face significant repercussions. Noteworthy among them is Brimstone, which was awarded $189 million to establish a plant for producing low-carbon construction materials. Another affected company, Anovion, is aiming to develop a factory to produce synthetic graphite for lithium-ion batteries—an area currently dominated by Chinese production.

The potential reductions extend beyond these companies, affecting various other enterprises in the construction and renewable energy sectors. Li Industries could lose $55.2 million aimed at recycling lithium iron phosphate batteries, while sublime Systems and Furno, focused on ultra-low-carbon cement solutions, might also see their grants cut.

At least one proposed cancellation—targeting TS Conductor, which manufactures advanced electrical conductors—contradicts the administration’s objectives to enhance energy infrastructure and artificial intelligence capabilities.

As these developments unfold, TechCrunch will provide updates from the affected companies regarding their responses to the proposed funding cuts. The implications of these decisions could reshape the landscape of U.S. manufacturing and renewable energy initiatives.

Revolut, a British fintech, is launching in India to tackle the underserved cross-border payments market. Indians spend around $30 billion abroad annually, losing nearly $600 million in bank fees. CEO Paroma Chatterjee aims to disrupt traditional banks by acquiring Arvog Forex and obtaining regulatory licenses. The service includes prepaid wallets with UPI support, a domestic Visa card, and children’s accounts, targeting 150 million digitally savvy Indians. Unlike competitors, Revolut requires full KYC checks, aiming for engaged users rather than just high numbers. With $45 million invested, the company faces competition from existing Indian fintechs but boasts a significant waitlist of 350,000.

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