Biden's energy secretary exercised $1.6 million stock option in EV company as she pushes Americans to buy electric cars

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Biden administration Energy Secretary Jennifer Granholm exercised $1.6 million in stock options with an electric vehicle technology firm as she and President Joe Biden continue to encourage Americans to buy electric cars in response to spiking gas prices.

According to the Daily Mail, Granholm sold her holdings in Proterra, based in Burlingame, CA, in 2021, but recently exercised $1.6 million in stock options from the company.

According to Forbes, Granholm is worth $8 million and recently served as director of the electric vehicle company, but divested following Republicans last year raising concerns about the involvement with the company.

A spokesperson for the Energy Department said that Granholm “…acted in full accordance with the comprehensive ethical standards set by the Biden Administration and has completed her divestment well ahead of the time required by her ethics agreement.”

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