Investment firm launching $1B fund to help suppliers shift to EVs ...Middle East

The Hill - Technology

Monroe Capital is partnering with the White House to launch a billion-dollar initiative geared towards improving the country’s landscape for electric vehicles (EV), the firm announced Monday. The project, known as the “Drive Forward Fund LP,” aims to support small and medium-sized companies with supply chain challenges for electric vehicles and enhance the development of new auto technology for drivers. “Looking ahead, we believe the automotive industry is poised for transformative changes driven by advancements in electric vehicles (“EVs”), hydrogen fuel cell technology, and autonomous driving systems, among others,” Alex Parmacek, portfolio manager for the fund at Monroe, said in

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